Discusses important economic considerations affecting the price, the number of solutions for the product. Begins with a discussion of relevant decision criteria. Next, it motivates the concept of the demand curve for the product and determines the elasticity of demand. Marginal analysis is used to establish the following necessary conditions for the best price and quantity: the marginal revenue must equal marginal cost. Price determination in the presence of resource constraints and competition is also discussed. "Hide
by Anirudh Dhebar 12 pages. Publication Date: November 5, 1990. Prod. #: 191093-PDF-ENG
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