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The Bruises and Bumps Company makes and sells skateboards at

Paper help Economics The Bruises and Bumps Company makes and sells skateboards at

Economics

The Bruises and Bumps Company makes and sells skateboards at

The Bruises and Bumps Company makes and sells skateboards at an average price of $70 each. Over the… Show more; The Bruises and Bumps Company makes and sells skateboards at an average price of $70 each. Over the past year they sold 4,000 skateboards. Its closest competitor, Broken Bones Inc., sells its skateboards at an average price of $65. If the point cross-price elasticity of demand between the two companies is 0.5, how many skate- boards will Bruises and Bumps sell if Broken Bones lowers their price 5%? Please explain your answer. Answer

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