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Your current prices are $311 in the southwestern region, $278 in the western region and $240 in the New England region. Your marginal cost is now $212.21. Given the predicted changes in the quantity demanded by region per problem 1 and using the stay even analysis %ΔQd = %ΔP/[%ΔP + ((P-MC)/P)], can you raise the price by 7% in any of the regional markets? State your conclusion and then show all the steps supporting your conclusion. (You must show your steps. Note you are not being asked to compute the new price. Carry all decimals when doing your calculation, but round at the end to one decimal, i.e., 10.075 is 10.1)
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