Currently, the Banana Republic Clothing Store is charging a…
Currently, the Banana Republic Clothing Store is charging a price of $70 for a pair of men’s skinny fit khaki pants. At that price, this company is able to sell 25 pairs of men’s skinny fit khaki pants per week. In order to sell the 26th pair of these pants, Banana Republic must lower its price to $68 per pair. Calculate the Marginal Revenue (MR) from selling the 26th pair of pants.
Read Details