Sellers Should Know That the Less Elastic the Demand for Their

question 42

Multiple Choice

Sellers should know that the less elastic the demand for their product is,the more advantageous it is for them to ________.

• A)drop the price
• B)raise the price
• C)maintain the price
• D)discontinue the item
• E)bundle the item with another product

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Definitions:

Packet

A formatted unit of data carried by a packet-switched network, which contains both control information and user data, facilitating data transmission.

Transit

The conveyance of passengers or goods from one location to another, often by public or commercial transport.

Computers

Computers are electronic devices capable of processing, storing, and retrieving data, executing programmed instructions to perform a wide variety of tasks.