Question
2.Which list of products generally has more available substitutes? Elastic GoodsInelastic Goods 3.Imagine that you are an executive for a business that produces all of
2.Which list of products generally has more available substitutes?
Elastic GoodsInelastic Goods
3.Imagine that you are an executive for a business that produces all of the products in your elastic and inelastic lists.Your boss is considering increasing the prices for some of the products and asks you which list you recommend increasing the prices on, the elastic goods or inelastic goods. For which set of products would price increases most likely generate an increase in revenue?Circle your answer: Elastic GoodsInelastic Goods
Explain your selection:
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Essays In Our Changing Order
Authors: Thorstein Veblen
1st Edition
1351311425, 9781351311427
