Problem 5 Product Priced 100 Sold 3 000 Times Price Elasticity Estimated 20 Much Would Rev Q34868868

Problem 5: A product is being priced at 100 and is being sold 3,000 times. The price elasticity is estimated to be-2.0. By how much would the revenues change when increasing the price by 5%? Problem 6: Imagine a retailer considering a 33-percent-off sale on blenders currently priced at $54. The retailer pays $29 per blender from the manufacturer. How much has the volume to increase for the sale to maintain profits? 1) 248% 2) 24% 3) 496% 4) 49% Problem 7: Consider a wind turbine manufacturer. Currently, a 1.5 MW wind turbine has a price of $1.7M and $1.3M in variable cost. If the manufacturer considers raising the price by 3%, what would be the allowable volume loss to at least maintain profits Show transcribed image text