Price to maximize total revenue

Assignment Help Business Economics

Reference no: EM13740743

If the price elasticity of a good is less than 0 but greater than -1, the good is considered _____________ and the company should ____________ price to maximize total revenue.

A. Elastic; Lower

B. Inelastic; Raise

C. Unit Elastic; Not Change

D. Normal; Lower

Reference no: EM13740743

Questions Cloud

Calculate the price of the bond that you are purchasing. : You are purchasing a 6-year discount bond with a face value of 441. At the time of purchase it had an interest rate of 3%. Calculate the price of the bond that you are purchasing. Please express your answer in dollars to the penny.

What advantages or disadvantages of market-based indicators : A survey by Fitch Ratings found that capital market participants felt that Credit Default Swaps, what advantages or disadvantages of market-based indicators for making investment (bonds, loans, stock) decisions

Rivalry is especial destructive to probability : Rivalry is especial destructive to probability if:

Statements goes against porters five forces model : Which of the following statements goes against Porter's 5 forces model?

Price to maximize total revenue : If the price elasticity of a good is less than 0 but greater than -1, the good is considered _____________ and the company should ____________ price to maximize total revenue.

Discuss the six key functions of a business''s operations : Research, identify, and discuss the six key functions of a business's operations.

How markets allocate resources : How markets allocate resources. Derived demand is the change in demand due to a result initiated in another market. Market changes affect the demand for resources in related markets. For the following scenario, you are given a list of products. Draw ..

If the cross-price elasticity between two goods : If the cross-price elasticity between two goods is 1.5, the goods are ____________.

Prepare a time-series plot of data : CoastCo Insurance, Inc., is interested in forecasting annual larceny thefts in the United States using the following data: Prepare a time-series plot of these data. On the basis of this graph, do you think there is a trend in the data? Explain

User Account

All Pages