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1) Some businesses will examine their pricing structure and modify it in order to maximize revenue, either by raising or lowering the price.

1) Some businesses will examine their pricing structure and modify it in order to maximize revenue, either by raising or lowering the price. For some organizations, lowering prices might be an effective means for increasing revenue. Select an organization you work for or are familiar with that has not already been chosen by another student. Based on the Economics for Managerial Decision Making: Cost and Revenue Curves simulation and this week’s readings, could the organization you have chosen lower prices to increase revenue? Why or why not? [Objectives 2.1 and 2.3]

This question was asked on Apr 28, 2010.

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