In order to maximize his profit, a businessman who faces a very elastic demand for…

In order to maximize his profit, a businessman who faces a very elastic demand for his product is advised to?
  • 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
Correct Answer: Option B
Explanation
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