If a product is said to have a price inelastic demand curve, what does this mean?
A) If you put the price up, sales will stay the same
B) If you the price down, sales volume will fall
C) If you change the price, sales volume will change very little
D) To sell more products, you should raise the price
E) To make more sales revenue, you should lower the price
Correct Answer:
Verified
Q1: Ivan runs a bakery. He has lots
Q2: What type of cost is 'mark-up' pricing
Q3: What is the term for the volume
Q4: Miranda owns a chain of handbag shops
Q5: Under which conditions would market skimming be
Q6: Marie is a software developer who works
Q7: Woods and Co is one of the
Q8: Matt has some great Christmas gifts for
Q9: What is parallel importing?
A) Trade customers buy
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents