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  1. mathematics
  2. calculus
  3. suppose that the elasticity of demand at a given p

Suppose that the elasticity of demand at a given price level is E p 0...

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Calculus

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Suppose that the elasticity of demand at a given price level is E p 0 8 What does that mean Select both the correct answer to elastic unit or inelastic as well as what the company should do to increase revenue Since 0 E p 1 demand is inelastic The company should lower prices to raise revenue The company should raise prices to raise revenue Since 0 E p 1 demand is elastic Since 0 E p 1 demand is unit The company should leave prices alone as the revenue is currently maximized

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