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Sagot :
P=975 is is the profitmaximizing off-peak load price to charge in the spring
What is price elasticity?
Price elasticity of demand measures how much a product's consumption changes in response to price changes. The market's reaction to price changes is measured by something called price elasticity. Elasticity plays a crucial role in pricing decisions since it enables us to determine if raising or reducing prices will allow us to meet our pricing goals.
A good or service's responsiveness to supply following a change in its market price is measured by its price elasticity of supply. Basic economic theory states that when a good's price grows, so will its supply.
P-MC/P = 1/2.60
P-500/P = 1/2.60
2.60P - 1560=p
1.60p=1560
p=1560/1.60
p=975
To know more about price elasticity, visit:
https://brainly.com/question/8729849
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