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What should be the new price

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Your Best Brand Bike Shorts-BBB Shorts have been flying off the shelf. Your chief economist tells you that during the Covid-19 pandemic, the taste for bicycling has shifted. The demand curve is much more inelastic. The price elasticity of demand has decreased from: -5.76 to -2.70." Before the campaign your price was $240 per pair of BBB Shorts. What should be the new price?

 

 

Reference no: EM133063012

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