Economy, asked by soumik26, 2 months ago

Examine the role of price elasticity of demand in decision-making process of a firm.

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Answered by Anonymous

3

Answer:

The business firms take into account the price elasticity of demand when they take decisions regarding pricing of the goods. ... This change in quantity demanded as a result of, say a rise in price by a firm, will affect the total consumer's expenditure and will therefore, affect the revenue of the firm.

Answered by yuvraj7031

3

Answer:

The business firms take into account the price elasticity of demand when they take decisions regarding pricing of the goods. ... This change in quantity demanded as a result of, say a rise in price by a firm, will affect the total consumer's expenditure and will therefore, affect the revenue of the fir

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