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Explain the increase the price of rm3 per unit

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Reference no: EM133128249

Problem:

Price of good x (RM)

Quantity demanded for good x (Units)

Quantity demanded for good Y (Units)

Quantity demanded for good Z (Units)

1

100

1,000

10

2

50

500

20

3

25

250

40

4

20

200

80

5

18

180

180

  1. If you are the producer of good x and you want to increases your total revenue would you increase the price of RM3 per unit to RM4 per unit? Why? (use the concepts of elasticity in your answer)?.

Reference no: EM133128249

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