The price elasticity of demand for MedPride Powder-Free Nitrile Exam Gloves, Medium, Box/100, has been estimated...

The price elasticity of demand for MedPride Powder-Free Nitrile Exam Gloves, Medium, Box/100, has been estimated to be about −2.0. Data from the MedPride company for 2019 shows that 80 (thousand) boxes per month of the gloves were sold that year. In 2019, the average retail price for a box of the gloves was $16.00. Using this information, derive the linear demand function for MedPride Powder-Free Nitrile Exam Gloves in thousands of boxes in 2019.

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Rahul Sunny answered 2 years ago

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