Point elasticity is useful for which of the following situations?
A. The bookstore is considering doubling the price of notebooks
B. A restaurant is considering lowering the price of its most expensive dishes by 50%
C. An auto producer is interested in determining the response of consumers to the price of cars being lowered by ₹ 100
D. None of the above
Answer:C
Point elasticity is useful for which of the following situations?
A. The bookstore is considering doubling the price of notebooks B. A restaurant is considering lowering the price of its most expensive dishes by 50% C. An auto producer is interested in determining the response of consumers to the price of cars being lowered by ₹ 100 D. None of the above