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Author Question: A firm is currently producing in the inelastic portion of its demand curve. What course of action do ... (Read 23 times)

Metfan725

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on: Apr 19, 2019

A firm is currently producing in the inelastic portion of its demand curve. What course of action do you recommend for it, assuming it wants to raise revenue?


◦ Continue producing at the current output level, because it maximizes its total revenue by producing in the inelastic portion of its demand curve.
◦ Reduce price, because if it reduces price and demand is inelastic, total revenue will increase.
◦ Increase price, because if it increases price and demand is inelastic, total revenue will increase.
◦ Continue selling at the same price, but increase the amount it produces.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by Metfan725 on Apr 19, 2019

kxciann

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Metfan725

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Reply 2 on: Apr 19, 2019
YES! Correct, THANKS for helping me on my review

duy1981999

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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