Elasticity of demand is an effective tool in the hand of a producer in that...
ECONOMICS
JAMB 2005
Elasticity of demand is an effective tool in the hand of a producer in that it enables him
- A. rise his profits and lower his, costs
- B. discourage buyers from cheating
- C. determine what he will produce
- D. set his price to maximize his profit
Correct Answer: A. rise his profits and lower his, costs
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