In order to maximize his profit, a businessman who faces a very elastic demand for...
ECONOMICS
JAMB 1995
In order to maximize his profit, a businessman who faces a very elastic demand for his product is advised to?
- A. slightly increase the price of his product
- B. slightly reduce the price of his products
- C. leaves his price unchanged
- D. discriminate his prices
Correct Answer: B. slightly reduce the price of his products
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