Homework answers / question archive / The following are two possible own price elasticities of demand for an individual firm's product

The following are two possible own price elasticities of demand for an individual firm's product

Marketing

Share With

The following are two possible own price elasticities of demand for an individual firm's product.

Assuming the firm wishes to maximize its profits, in which case would the firm have more "market power," and thus be in a better position to charge a higher price that would represent a higher "markup" over its marginal costs?

Select one:

a. -6.20

b. -1.20