Determine a new price which will cause sales of corn to rise

Reference no: EM13213999

Pamela Sue, proprietor of Heartland Supermarket would like to raise her current sales of corn from 250 bushels per week to 500 bushels per week. Her current price of a bushel of corn is $14. Given and elasticity of demand of -2 determine a new price which will cause sales of corn to rise from 250 to 500 bushels per week.

Reference no: EM13213999

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