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by OZe on October 25th, 2009
It will help the firm set the price for the product. If there is high cross-elasticity with competing products, they will have to set the price fairly low because the other products are considered a good substitute. On the other hand, if there is little cross-elasticity, they can set the price higher because people will not accept a lower priced product as a substitute.
What is the leading sugar cane growing country?
by Answerbag Staff on April 27th, 2010
| 1 person likes this
What's Alan Greenspan doing these days?
by 'Chengdu on December 23rd, 2011
| 1 person likes this
Can anyone find online sources offering conclusive proof of tax cuts increasing tax revenue?
by apex01 on December 15th, 2011
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Are U.S salaries too high only as much as U.S CEOs and top execs are in comparison to the rest of the world?
by -O-uknow on November 19th, 2011
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Don't a majority of American workers work jobs that are unskilled overall and did not require a specific degree to obtain?
by helme on December 16th, 2011
| 1 person likes this
You're reading Suppose a firm wants to launch a new product on the market.how can the knowledge of the different types of elasticities might be helpful to him.
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