MR = 10
and AR = 2, what is the
Value of price clasticity of demand?
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Relationship between AR, MR and Elasticity of Demand!
The relationship between AR, MR and elasticity of demand is very useful at any level of output.
This relationship is very useful in the price-determination under different market conditions. It has been discussed that average revenue curve of a firm is the same thing as the demand curve of the consumer for the product of the firm.
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