A firm started promoting its product through advertising. This changed the product's elasticity from -1.08 to -0.99 . The firm should
a. Lower prices as the demand is more elastic
b. Lower prices as the demand is more inelastic
c. Raise prices as the demand is more elastic
d. Raise prices as the demand is more inelastic
d
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"When it comes to public goods, individuals do not reveal their true preferences because it is not in their self interest to do so." Evaluate this statement
What will be an ideal response?
The primary liabilities of depository institutions are
A) premiums from policies. B) shares. C) deposits. D) bonds.
If a good is not produced, then there is no demand for it
Indicate whether the statement is true or false
After sugar refiner has produced fine sugar for baking purposes, what is left over is used to produce molasses. This technology exhibits
a. Economies of scale b. Economies of scope c. Diseconomies of scale d. Diseconomies of scope