Would a profit-maximizing firm sell where demand is inelastic?
a. No, this would not follow the rule of MC = MR.
b. No, the firm could not profitably raise price.
c. Yes, the firm could profitably lower price to attract sales.
d. Yes, in this case there are few substitutes for the good.
a
Economics
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Because the Federal Reserve System is a central bank, it provides banking services to
A) no one. B) consumers and business. C) commercial banks. D) the government only. E) businesses only.
Economics
Refer to Scenario 3 . Assume that in one day, two huts were built and 75 coconuts were gathered. What does this situation depict?
What will be an ideal response?
Economics