Answer to Question #19876 in Macroeconomics for kp

Question

IIf Potomac knows that the arc price elasticity of demand for its ovens is –3.0, what price would Potomac have to charge to sell the same number of units it did before the Spring City price cut?
I have the equiation of: (1500/5250)/(P - 500)/{P-500/(500 + P)/2 = -3

Solve for the price I need

Answer 1

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