Industries can increase the volume of goods or services

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Reference no: EM1323140

Q. All Industries can increase the volume of goods or services sold by cutting prices. But the volume (quantity) of goods or services a industry sells differs from a industry's revenues (price times quantity). Select your industry or a industry not previously discussed. Illustrate what good or service does the industry sell? Is the price elasticity of demand elastic or inelastic for which good or service? How should the industry alter the price of the good or service to increase revenues?

Reference no: EM1323140

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