Question
1. What kind of elasticity does your good/service most likely have? Provide reasoning and theory for why you think that. 2. Based on your decision
1. What kind of elasticity does your good/service most likely have? Provide reasoning and theory for why you think that. 2. Based on your decision in question 1, what sort of strategy could you implement to improve revenue if you ran a company that sold your good/service? 3. Are there any factors that could change the elasticity type of your product? (ie. From elastic to inelastic). Be creative!
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Macroeconomics Principles, Problems, & Policies
Authors: Campbell McConnell, Stanley Brue, Sean Flynn
20th Edition
0077660773, 9780077660772
