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cluponka [151]
3 years ago
14

If the elasticity of demand for a company’s product is estimated to be 1.72, what would you advise the company to do if their ob

jective is to decrease revenue?
Business
1 answer:
polet [3.4K]3 years ago
7 0

Answer:

Raise price

Explanation:

Elasticity of demand refers to the responsiveness of quantity demanded with any change in the price level of the product.

Here, the elasticity of demand is 1.72 which indicates that the demand for the product is more elastic. This means that a slightly increase in prices would reduce the quantity demanded by the a larger amount.

Therefore, if this company wants to decrease its revenue then it should raise the price of the product which results in lower quantity demanded and hence, reduction in the revenues.

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A(n) _____ involves moving an employee into a position with greater challenges, more responsibility, and more authority than in
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The following is a partially completed lower section of a departmental expense allocation spreadsheet for Brickland. It reports
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a. $6,400.

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4 years ago
Acheron Co.'s December 31, Year 1, balance sheet contained the following items in the long-term liabilities section: Unsecured 5
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Answer:

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Add 4.875% guaranty secured bonds of $500,000

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Answer:

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