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What price will it come closest to absorbing

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Please solve in excel only.

Cimarron's best-selling product sells for $85 and, although it currently produces 750,000 of these each year, it has capacity to produce 100,000 more. Its research determines that its price is 1.50x elastic in a reasonable range around its current price. At what price will it come closest to absorbing this excess capacity?

Please solve in excel only.

Reference no: EM133130462

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