A firm changes the price of its product and its sales revenues don't change. The absolute value
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Question:
A firm changes the price of its product and its sales revenues don't change. The absolute value of the price elasticity of demand for its product must be
A. 1.0.
B. between 1 and infinity.
C. 0.
D. infinity.
Related Book For
Managerial economics applications strategy and tactics
ISBN: 978-1439079232
12th Edition
Authors: James r. mcguigan, R. Charles Moyer, frederick h. deb harris
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