Andiyyyyy Andiyyyyy
  • 11-06-2022
  • Social Studies
contestada

What effect does price elastic demand have on a producer should the price of a product increase?

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Jhajj44 Jhajj44
  • 12-06-2022
If demand is elastic at a given price level, then should a company cut its price, the percentage drop in price will result in an even larger percentage increase in the quantity sold—thus raising total revenue.
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