Determine what should the values of p and x be

Reference no: EM13223872

suppose two types of consumers exist, a more affluent group (1) with an estimated price elasticity for biscuits of -2 and a less affluent (2) with an estimated price elasticity for biscuits of -2.5. Pillsbury puts a posted price of a particular amount P on its product but issues a $X-off coupon in the newspaper. Suppose the marginal cost is $1.50. What should the values of P and X be?

Reference no: EM13223872

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