Tag: would a price increase be a good way to increase total revenue? If you were facing inelastic demand

Economics Questions-If you were facing elastic demand, would a price increase be a good way to increase total revenue? If you were facing inelastic demand, would a price increase be a good way to increase total revenue? Since elasticity changes as you move up and down the demand curve, how can the marketing manager know whether demand for a product is elastic or inelastic?

pressays

Economics Questions-If you were facing elastic demand, would a price increase be a good way to increase total revenue? If you were facing inelastic demand, would a price increase be a good way to increase total revenue? Since elasticity changes Read More …