1 demand for a product will be inelastic if a the product, Ask an Expert

Management Studies

1. Demand for a product will be inelastic if: ?

A. the product has a number of different uses.

B. the product can be repaired and replaced or prolonged in its use. ?

C. many substitute products are available in the market.

D.? its price is so low that it is an inconsequential part of an individual's budget.

2. Identify a true statement about status quo pricing.?

A. ?It gives great importance to the demand and costs of a product.

B. ?It can lead to a pricing disaster.

C. It leads to optimal pricing of a product.

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92587462

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