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Author Question: It is a conventional practice among apparel retailers to set the retail price of clothing at twice ... (Read 82 times)

lindiwe

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on: Jul 1, 2018
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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Reply #1 on: Jul 1, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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lindiwe

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

Joy Chen

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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