How would mr smith increase sales per week

Reference no: EM13213501

Mr. Sea Food is considering a price reduction on the lobster soup, which currently sells for the price of $5.00. Mr. Smith, the proprietor, knows the price elasticity for this soup is roughly equal to 2.3 over the range being considered for the price change. The soup has been selling at the stable pace of 500 per week. To increase market share, Mr Smith would like to increase sales to 750 per week. What price should she set?

Reference no: EM13213501

Questions Cloud

Explain the end of the titration is determined by the color : Calculate the concentration of the Na2S2O3 solution if 30.70 mL of a 0.2210 M I2 solution react exactly with a 100.0 mL sample of the Na2S2O3 solution.

Reduces his level of stress : Mason, a stockbroker, runs two miles every day after work because it reduces his level of stress. Mason's running habit is maintained by a _________ reinforcer.

List the purposes of validation : List the purposes of validation, outline the legal and ethical responsibilities of assessors - Provide a short report outlining how you participated and how you demonstrated your communication and liaison skills.

Use electromagnetic radiation : Which of the following does not use electromagnetic radiation?

How would mr smith increase sales per week : Mr. Sea Food is considering a price reduction on the lobster soup, which currently sells for the price of $5.00. Mr. Smith, the proprietor, knows the price elasticity for this soup is roughly equal to 2.3 over the range being considered for the pr..

Explain what is the concentration of a naoh solution : making it an excellent choice as a standard acid. What is the concentration of a NaOH solution, if it takes 62.00 mL to neutralize a 0.0778 g sample of the acid?

Define the structure and names of five alkenes : the structure and names of five alkenes having the molecular formula C6H12 that produce hexane on catalytic hydrogenation

Define what is the specific heat of the metal : A 32.22 g sample of a metal that looks like aluminum is heated to 99.8 C in hot water. The metal is then quickly transferred into exactly 50.0 ml of water at 22.9 C in a calorimeter

Discuss the pros and cons of the voucher program : Take a position for or against the complete privatization of the educational system and support your position with evidence or examples. Discuss the pros and cons of the voucher program and determine whether or not this is an economic policy you w..

User Account

All Pages