Price elasticity of demand for increase-decrease the price
Question: I work in hotel management. How can I increase the company's revenue, how would can I use price elasticity of demand to determine whether to increase or decrease the price?I would like examples and details.
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How would can I use price elasticity of demand to determine whether to increase or decrease the price?
The Demand and Supply of Wheat) Look at the figure The Demand and Supply of Wheat. If a price of $8 temporarily exists in this market:
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