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Bristol-Myers - increase revenues all they would have to do...

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Bristol-Myers Squibb Company The firm I have decided to use is Bristol-Myers; they are the makers of Metformin and other medications. The price elasticity of demand for this product is inelastic due to the fact that there are not really any substitutes that work as well as the Metformin. If the company wants to
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Unformatted text preview: increase revenues all they would have to do is increase the price of the medication. Since this product is a need and not a want the demand does not change with the increasing of price....
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