ECONOMICS FOR MANAGERS-GROUP ASSIGNMENT II The relationship between marginal revenue and price elasticity of demand is...

ECONOMICS FOR MANAGERS-GROUP ASSIGNMENT II
The relationship between marginal revenue and price elasticity of demand is given asMR = P(1+1/ed), where MR is marginal revenue, P is price of the commodity and Ed is the
coefficient of price elasticity of demand. As a manager of a business firm in Accra, explain with
appropriate illustrati ons how the above relationship will guide you in making pricing and output
decisions of your firm.

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Rahul Sunny answered 1 year ago

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