The demand curver for your firms product is linearbased on, Ask an Expert

Economics

The demand curver for your firms product is linear.Based on recent sales data you have determined that at the current price the price elasticty of demand is .80.

A. Is the current price on the upper or lower portion of the demand curve?

B. If you want to increase your total revenue, should you increase or decrease your price?

C. Will you move upward or downward along the demand curve?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9678129

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