MICROECONOMICS Solve the first question 1- If the PED is less than one ( inelastic) ,any increasing in the price willlead to increase total revenue ,doesthat producerincrease the price without a limit ??this meancan2- What is the best price that producermust determine so as to achievemaximum revenue

1)Producer if monopolist could do so but not other market forms.

Answered: MICROECONOMICS Solve the first question

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MICROECONOMICS Solve the first question

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter5: Elasticity

Section: Chapter Questions

Problem 9SCQ: Suppose the cross-price elasticity of apples with respect to the price of oranges is 0.4, and the...

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MICROECONOMICS Solve the first question

1- If the PED is less than one ( inelastic
) ,any increasing in the price will
lead to increase total revenue ,does
that producer
increase the price without a limit ??
this mean
can
2- What is the best price that producer
must determine so as to achieve
maximum revenue

Study of decisions made by households and business firms at an individual level. It includes several laws and theorems related to demand, supply, production, allocation of resources, and prices.

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