(Steps Shown) Using the relationship between elasticity and revenue, explain whether the firms in questions 1 and 2 should lower their
Question: Using the relationship between elasticity and revenue, explain whether the firms in questions 1 and 2 should lower their price.
Deliverable: Word Document 
![[See Solution] Suppose price rises from $25](/images/solutions/MC-solution-library-76756.jpg "[See Solution] Suppose price rises from $25 to $40. What is the")
[See Solution] Suppose price rises from $25 to $40. What is the
(See) Suppose price rises from $40 to $75. What is the elasticity
![[Step-by-Step] Calculate the marginal revenue figures for](/images/solutions/MC-solution-library-76758.jpg "[Step-by-Step] Calculate the marginal revenue figures for the")
[Step-by-Step] Calculate the marginal revenue figures for the
![[Step-by-Step] If the firm is currently charging](/images/solutions/MC-solution-library-76759.jpg "[Step-by-Step] If the firm is currently charging $75, should it lower")
[Step-by-Step] If the firm is currently charging $75, should it lower
(See Solution) If the firm is currently charging $40, should it raise
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