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Consider that Transworld is entering the market of fiber optic based internet services. a.A two year old study indicate that the price elasticity of demand

Consider that Transworld is entering the market of fiber optic based internet services.

a.A two year old study indicate that the price elasticity of demand for internet was about 1.3. If a 10MB connectioncurrently costs PKR 2000 a month and the Transworld wants to increase its revenue by 10% should it increase or decrease its price.

b.Due to the Covid situation the people are stuck at home and have nothing to do much except online engagement. Should the PED of users stay same or change? Why?

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