asked 90.0k views
1 vote
Suppose you are in charge of sales at a pharmaceutical company, and your firm has a new drug that causes bald men to grow hair. assume that the company wants to earn as much revenue as possible from this drug. if the elasticity of demand for your company's product at the current price is 1.4, what would you advise the company to do?

asked
User Rodger
by
8.9k points

1 Answer

1 vote
Slowly raise the price of the product as to not let consumers know your doing it.
answered
User Odgiiv
by
8.4k points
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