[All Steps] Based on the price elasticity of demand, do you think that this firm should cut its price to increase its market share? No, demand is inelastic
Question: Based on the price elasticity of demand, do you think that this firm should cut its price to increase its market share?
No, demand is inelastic so cutting price would reduce revenue.
No, demand is elastic so cutting price would reduce revenue.
Yes, demand is inelastic so cutting price would increase revenue.
Yes, demand is elastic so cutting price would increase revenue.
Deliverable: Word Document 
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