If a price decrease of a product significantly raises its revenues, then the absolute price elasticity of demand for that product must be

If the price of a good changes but everything else influencing suppliers' planned sales remains constant, there is a

A) new supply curve that is to the right of the initial supply curve. B) new supply curve that is to the left of the initial supply curve. C) movement along the supply curve. D) rotation of the initial supply curve around the initial price.

When considering setting the transfer price at the market price of a product similar to the intermediate good that is already available on the market

a. It is important to recognize that the market price includes a margin above marginal cost b. It is OK if the product on the market includes costly features your downstream division does not use c. It is OK if the product on the market is inexpensive because its quality is lower than you use d. If it is similar enough, it is justification for you producing it in-house