*The Teenager Company makes and sells skateboards at an average price of $70 each. Over the past year the sold 4,000 of these skateboards.

3. *The Teenager Company makes and sells skateboards at an average price of $70 each. Over the past year the sold 4,000 of these skateboards. The company believes that the price elasticity for this product is about –2.5. If it decreases the price to $63, what should be the quantity sold. Will revenue increase? Why?

3. *The Teenager Company makes and sells skateboards at an average price of $70 each. Over the past year the sold 4,000 of these skateboards. The company believes that the price elasticity for this…

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