Business, 19.09.2019 19:30 guccci8512
In 2003, when music downloading first took off, universal music slashed the price of cds from an average of $20 to an average of $8. the company said that it expected the price cut to boost the quantity of cds sold by 75 percent. questions: (a) what was universal music’s estimate of the price elasticity of demand for cds? and (b) given your answer to (a), if you were making the price decision at universal music, would you cut the price, raise the price or leave the price unchanged? , explain your decision.
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In 2003, when music downloading first took off, universal music slashed the price of cds from an ave...
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