A firm determine that the price elasticity of demand for their good is well-above 1. Infact it
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A firm determine that the price elasticity of demand for their good is well-above 1. Infact it is an exceptionally large value that approaches infinity . what type of demand curve is this elastic or inelastic? And as a consultant what would you recommend this firm do should it wish to increase profits?
Related Book For
Managerial Economics A Problem Solving Approach
ISBN: 978-1133951483
3rd edition
Authors: Luke M. Froeb, Brian T. McCann, Mikhael Shor, Michael R. War
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