If the firms price elasticity of demand is equal to -2 or 2, Ask an Expert

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Q. A firm's marginal cost is constant and equal to $8 for all levels of production. If the firm's price elasticity of demand is equal to -2 (or 2 in absolute terms) what price should the firm charge in order to maximize profits?

Q. Which of the following would not be expected to increase labor productivity?

A. technological advance?B. the acquisition of more education and training by the labor force?C. an increase in the size of the labor force?D. the realization of economies of scale

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9276444

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