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24 Feb 2018
2. Business people talk about price elasticity of demand without using the actual term. Which of the following statements reflects elastic demand for a product? A) "A price cut won't help me. It won't increase sales, and I'll just get less money for each unit that I was selling before. "I don't think a price cut will make any difference to my bottom line. What I may gain from selling more I would lose on the lower price." "My customers are real bargain hunters. Since I set my prices just a few cents below my competitors, customers have flocked to the store and sales are booming." "With the recent economic recovery, people have more income to spend and sales are booming, even at the same prices as before.' None of the above. E) None
2. Business people talk about price elasticity of demand without using the actual term. Which of the following statements reflects elastic demand for a product? A) "A price cut won't help me. It won't increase sales, and I'll just get less money for each unit that I was selling before. "I don't think a price cut will make any difference to my bottom line. What I may gain from selling more I would lose on the lower price." "My customers are real bargain hunters. Since I set my prices just a few cents below my competitors, customers have flocked to the store and sales are booming." "With the recent economic recovery, people have more income to spend and sales are booming, even at the same prices as before.' None of the above. E) None
Trinidad TremblayLv2
26 Feb 2018
