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Author Question: It is a conventional practice among apparel retailers to set the retail price of clothing at twice ... (Read 102 times)

lindiwe

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It is a conventional practice among apparel retailers to set the retail price of clothing at twice the cost paid to the manufacturer. For example, if the retailer pays 7 for a pair of jeans, the jeans will retail for 14. What must the price elasticity of demand be for this practice to be profit maximizing?
 
  What will be an ideal response?

Question 2

Suppose there are 20 competitive firms in a market. The supply curve of each firm is q = 2p. The market demand is Q = 200 - 2p. What is the residual demand curve facing a typical firm?
 
  What will be an ideal response?


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ttt030911

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lindiwe

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Reply 2 on: Jul 1, 2018
Gracias!


kswal303

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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