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Sells skateboards at an average price

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The Teenager Company makes and sells skateboards at an average price of <70 each. During the past year, they sold 4,000 of these skateboards. The company believes that the price elasticity for this product is about - 2.5. If it decreases the price to <63, what should be the quantity sold? Will the revenue increase? Why?

Reference no: EM132120553

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