in order to most profitably engage in price discrimination, a firm will lower the price for consumers whose demand is _ and raise the price for consumers whose demand is __.

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08-12-2022
Business

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in order to most profitably engage in price discrimination, a firm will lower the price for consumers whose demand is _ and raise the price for consumers whose demand is __.

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contexto065 contexto065 · Answer 1 · 2022-12-15T11:47:54+01:00

Demand that is inelastic will be used to fill in the first blank, while elastic demand will be used to fill in the second.

The interaction of a market's supply and demand factors determines price. The desire of consumers and producers to engage in purchasing and selling is represented by demand and supply. When buyers and sellers can agree on a price, a product exchange takes place.

According to the theory of price determination in microeconomics, the connection between producer supply and consumer demand at any given instant determines the price of a certain commodity or service. Prices ought to increase when demand outpaces supply and decrease when supply outpaces demand.

Know more about the price determination at: https://brainly.com/question/15155462

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in order to most profitably engage in price discrimination, a firm will lower the price for consumers whose demand is _____ and raise the price for consumers whose demand is ______.

Respuesta :

Otras preguntas

in order to most profitably engage in price discrimination, a firm will lower the price for consumers whose demand is _ and raise the price for consumers whose demand is __.