Calculating arc elasticity of demand and optimal price Please help with the following problem: Sting
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Calculating arc elasticity of demand and optimal price
Please help with the following problem: Stinging Pesticides, Inc, provides scorpion control
services, to residential and business customers in the El Paso area The
company recently raised its service price from $70 to $80 per annual treatment
As a result, sales fell to 37,500 from 52,500 treatments in the year earlier
period
A Calculate the arc price elasticity of demand for SPI
service
B Assume that the arc price elasticity (from Part A) is the
best available estimate of the point price elasticity of demand If marginal
cost is $48 per unit for labor and materials, calculate SPI’s optimal markup on
price and its optimal price
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