If advertising makes demand of a product more elastic, it makes sense for a firm to
a. Decrease the price of the product
b. Increase the price of the product
c. Leave the price unchanged
d. None of the above
a
Economics
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Which of the following influences does NOT shift the supply curve?
A) a rise in the wages paid workers who produce the good B) the development of new technology C) people deciding that they want to buy more of the product D) a decrease in the number of suppliers
Economics
If a nonbinding price floor is imposed on a market, then the a. quantity sold in the market will decrease
b. quantity sold in the market will stay the same. c. price in the market will increase. d. price in the market will decrease.
Economics