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Answer to Question #87677 in Microeconomics for Ashee
Question #87677
Discuss why entrepreneur might want to change the PED for their products and consider the extent to which this is acheivable
Expert's answer
Entrepreneurs might want to change the PED for their products because the less elastic is demand for product, the higher revenue can be received as a result of increase in price. Every product has some extent to which this is acheivable.
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