Business
Business, 16.02.2021 05:20, gabegabemm1

A company doing marketing research finds that a 10 percent increase in its product's price would create a 5 percent decrease in the quantity demanded of its product. a. Based on this information, demand for the company's product is multiple choice 1 inelastic. perfectly inelastic. unit-elastic. perfectly elastic. elastic. b. Using this same information, the company should the price of its product. multiple choice 2 not change raise lower

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