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Question 19

Which of the following will benefit a producer who wants to maximize profit?

  • A.reduce price whenever demand is inelastic
  • B.increase price when demand is elastic
  • C.reduce price when demand is elastic
  • D.fixed the price of his commodity based on the price of other producers.
Objective

Question details

Exam body
OAU
Subject
Economics
Year
2014/2015
Question no.
#19
Type
Objective
Previous · Q17A total utility is increasing, marginal utility is Next · Q20 Based on the fact that demand curve shows the maximum price at which consumers…

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