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Author Question: The own price elasticity of Anne's apple pies is 5 . If the aggregate market for apple pies has an ... (Read 222 times)

KimWrice

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on: Jul 1, 2018
The own price elasticity of Anne's apple pies is 5 . If the aggregate market for apple pies has an own price elasticity of 1.25, Anne's apple pies has an approximate market share of
 a. 6.25
  b. 25
 c. 10
 d. 20

Question 2

What is the best response of firm B, given firm A is charging a low price?
 a. Charge a low price
 b. Charge a high price
 c. Charge zero, give the good away
  d. All of the above


quynhmickitran

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Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

a


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KimWrice

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Reply #2 on: Jul 1, 2018
Thank you :)


quynhmickitran

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Reply #3 on: Jul 1, 2018
Happy to help you


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