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Explain how much should the firm charge

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Reference no: EM1330744


Profit maximization

A firm has capacity limitations and charges $30 for their service during daily peak times. If the market demand elasticity drops from -3 during peak times to -5 at off peak times, how much should the firm charge to earn the maximum profit during off peak times?
A. $20
B. $21
C. $24
D. Not enough information to determine

 

Reference no: EM1330744

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