Question
A firm changes the price of its product and its sales revenues don't change. The absolute value of the price elasticity of demand for its
A firm changes the price of its product and its sales revenues don't change. The absolute value of the price elasticity of demand for its product must be
A. 1.0.
B. between 1 and infinity.
C. 0.
D. infinity.
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Managerial economics applications strategy and tactics
Authors: James r. mcguigan, R. Charles Moyer, frederick h. deb harris
12th Edition
9781133008071, 1439079234, 1133008070, 978-1439079232
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