Elasticity of demand is an effective tool in the hand of ...
Elasticity of demand is an effective tool in the hand of a producer in that it enables him
Rise his profits and lower his costs
Discourage buyers from cheating
Determine what he will produce
Set his price to maximize his profit
Correct answer is A
No explanation has been provided for this answer.
What effect would a change in price of a commodity have on its supply? ...
One of the following is NOT a reason for increase in public expenditure ...
The ultimate objective of Economics is to ...
One of the advantages of localization of industry is that firms ...
The hoarding of goods is usually experienced when ...
Which of the following market structure are imperfect in competition? i. Monopoly ii. Duopoly i...