MICROECONOMICS
MICROECONOMICS
11th Edition
ISBN: 9781266686764
Author: Colander
Publisher: MCG
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Chapter 14, Problem 3IP
To determine

The reason for selling something at a zero price by a firm.

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A Caterpillar tractor one of the largest farm machinery in the world has requested for your services on pricing policy for its product. One of the things the company would like to to know is how much a 5% increase in price is likely to reduce the firm’s sales. What could you require in order to advice?
09.
What kind of firm can sell all its product at the market price but nothing above that price?
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