A-LevelEconomicsThe price system and the microeconomy9708/12 · May/June 2022 · Q91 Mark
What would be the most likely reason for a firm's decision to calculate the price elasticity of demand for its product?
Ato provide retail statistics for the government
Bto predict the change in its total revenue after it raises prices
Cto calculate the firm's competitive position
Dto enable the firm to complete consumer satisfaction surveys
✓ Correct answer
B: to predict the change in its total revenue after it raises prices
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