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In order to maximize his profit, a businessman who faces a very elastic demand for his ...
Classroom
Economics Classroom
Jamb
Jamb 1995
The Theory Of Price Determination
Equilibrium Price And Quantity In Product And Factor Markets
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In order to maximize his profit, a businessman who faces a very elastic demand for his product is advised to?
SchoolNGR Classroom
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
A
Slightly increase the price of his product
B
Slightly reduce the price of his products
C
Leaves his price unchanged
D
Discriminate his prices
Show Answer
Show Explanation
Correct Answer:
Option B
Explanation:
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