What if the company lowers the price

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Reference no: EM1361538

The Ace Sports Company manufacturer's athletic shoes. The demand is elastic relative to price (Price elasticity of demand for the shoes has a +2.1 price elasticity coefficient). Illustrate what would you expect to happen to the company's total revenue if the shoe prices were increased? What if the company lowers the price?

Reference no: EM1361538

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