Forsman Inc Has Sales Of 10 000 000 The Contribution Margin Is 40 And The Fixed

Thank you for answering my question about the Elasticity of Demand option on the Forsman, Inc. question. Could you please explain how you arrived at the answer? I see your calculations, but do not understand how you arrived at some of the figures that were used. How exactly did you arrive at % of change in quantity as – .40% and the Contribution margin of $7,680,000?. In other words, how did you get $40,000,000? And where did the .80 and .60 come from? I would greatly appreciate it if you could break it down further for me, step by step, because I am very unfamiliar with the Elasticity of demand concept and am not understanding how you arrived at the answer. Thank you so much for your assistance..

 

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