With regard to elasticities of demand: Group of answer choices: A) price elasticity should actually be the sole basis for pricing decisions. B) price elasticity = % change in price divided by % change in quantity. C) price increases result in revenue increases if demand is price inelastic. D) price decreases result in revenue decreases if demand is price elastic.
With regard to elasticities of demand: Group of answer choices: A) price elasticity should actually be the sole basis for pricing decisions. B) price elasticity = % change in price divided by % change in quantity. C) price increases result in revenue increases if demand is price inelastic. D) price decreases result in revenue decreases if demand is price elastic.
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 15SQ
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With regard to elasticities of demand:
Group of answer choices:
A) price elasticity should actually be the sole basis for pricing decisions.
B) price elasticity = % change in price divided by % change in quantity.
C) price increases result in revenue increases if demand is price inelastic.
D) price decreases result in revenue decreases if demand is price elastic.
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