If a firm wanted to know whether the demand for its product was elastic, unit elastic, or inelastic, then the firm could A. not do anything as there is no way to find an elasticity value. B. survey competitors and ask them what they think demand elasticity for the product is. C. change price a little bit and observe what happens to total revenue. D. talk to its customers.
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If a firm wanted to know whether the demand for its product was elastic, unit elastic, or inelastic,...
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