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Elasticity of demand for product

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Reference no: EM133130079

Assume you are a manager of a company. Your finance manager told you to that revenue is decreasing. He suggests that you consider changing the price of product to increase total revenue. What do you suggest, increase or decrease in price if...

i) elasticity of demand for your product is more elastic.

ii) elasticity of demand for your product is less elastic.

Support your answer with diagram

Reference no: EM133130079

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