If a seller could separate various groups of customers to maximize his revenue, how might he...
If a seller could separate various groups of customers to maximize his revenue, how might he separate them and what would he do?
Homework Answers
The seller might seperate the group on the basis of their elasticity of demand.The lesser the elasticity of demand,the higher price the seller can charge from that group.
Thus,he will charge higher price from the group with inelastic demand and lower price from the group with elastic demand.
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