10% What Would The Impact Of The Price Increase Have On The Number Of Soccer Balls Sold And Total Revenue?

olgtltligtDicks research department estimates elasticity of demand for soccer balls in the store to be

Question

olliDicks research department estimates elasticity of demand for soccer balls in the store to be

-1.5. If each soccer ball delivered to the store costs $10, what is the optimal markup factor and the optimal price that would maximize your profit?/lili if you raised your price by 10%, what would the impact of the price increase have on the number of soccer balls sold and total revenue? /li/ol

Macroeconomics