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Question: The elasticity of the company is -1.205.what would you recommend for the company in terms of pricing its product if it wants to increase revenue? Why? Give a specific numerical example: For example, increase (or decrease) price by x% because that would lead quantity demand to change by y%, and cause revenue to increase by z%, etc.
The elasticity of the company is -1.205.
what would you recommend for the company in terms of pricing its product if it wants to increase revenue? Why? Give a specific numerical example: For example, increase (or decrease) price by x% because that would lead quantity demand to change by y%, and cause revenue to increase by z%, etc.