Multiple Choice
You are the newly appointed sales manager of the Rock Record Company and have been charged with the task of increasing revenues.Your economics consultants tell you that at present price and output levels,price elasticity of demand for your product is less than one.You should:
A) decrease prices.
B) increase prices.
C) hold prices constant and increase supply.
D) cut advertising expenditures to decrease the demand for these records.
Correct Answer:
Verified
Correct Answer:
Verified
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