Question
After running a promotional campaign, the owners of a local hardware store decided to decrease the prices for the advertised products sold in their store.
After running a promotional campaign, the owners of a local hardware store decided to decrease the prices for the advertised products sold in their store. One can infer that?
a. the promotional expenditures made the demand for the advertised products less elastic.
b. the promotional expenditures made the demand for the advertised products more elastic.
c. the promotional expenditures had no effect on the demand elasticity.
d. the owners got it wrong. To cover the promotional expenses, they should have raised the prices.
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The Lever Of Riches Technological Creativity And Economic Progress
Authors: Joel Mokyr
1st Edition
0195074777, 9780195074772
