If a price reduction reduces a firm\'s total revenue: A.the demand for the produ
ID: 1248418 • Letter: I
Question
If a price reduction reduces a firm's total revenue: A.the demand for the product is inelastic in this pricerange. B.the product is an inferior good. C.in this price range the elasticity coefficient of demand isgreater than 1. D.this price decline will increase the firm's profits. If a price reduction reduces a firm's total revenue: A.the demand for the product is inelastic in this pricerange. B.the product is an inferior good. C.in this price range the elasticity coefficient of demand isgreater than 1. D.this price decline will increase the firm's profits.Explanation / Answer
A. the demand for the product is inelastic in this price range.
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