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Economics

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1. In a multi-product company, if they decide to discontinue some products how would they decide which products to drop? Explain using an appropriate model. 3 marks 2. Explain a situation when a price rise will NOT result in increase in revenue? Under which situation a price rise will result in increase in revenue? Provide an example in each of the cases. 3 marks 3. What do you understand by the term 'services are perishable'. Provide an example in support of your understanding. 2 marks 4. What do you mean by service recovery? Provide an example. 2 marks