Defend or refute the statement. Write ‘yes’ or ‘no’ with reaso – InterviewSolution

1.	Defend or refute the statement. Write ‘yes’ or ‘no’ with reason:A monopolist fixes price of his product on the basis of elasticity of demand for his product.
Answer» Yes. Often, higher price is fixed when elasticity of demand is low. Low price is fixed when elasticity of demand is high.

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