Price A M B Quantity i. As the price drops from A to M and then to B, whe

Question:

Price A

M
B

Quantity

i. As the price drops from A to M and then to B, where M is the midpoint of A and B explain the relationship between the price elasticity and total revenue. (4 marks)

ii. Explain how you can benefit as a business manager from your understanding of the relationship described in ( i ). (4 marks)

Price: $2.99

Solution: The solution consists of 1 page
Deliverables: Word Document

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Price A M B Quantity i. As the price drops from A to M and then to B, whe

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