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Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992
BuyFind

Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992

Solutions

Chapter 6, Problem 6DQ
Textbook Problem

Explain why the following statement is true: “A firm with a demand curve that is inelastic at its current output level can always increase its profits by raising its price and selling less.” (Hint: Refer back to “Price

Elasticity of Demand: Its Effect on Total Revenue and Total Expenditure.”)

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