Business, 10.04.2020 20:25 abeyhalley
Greenaqua Corp. is the only supplier of bottled drinking water in the country Lithasia. Due to the profits the firm enjoys, new corporations are interested in entering the market. If a few more companies producing their own line of bottled drinking water enter the market, which of the following statements will be true about Greenaqua Corp.?
a. The elasticity of demand of Greenaqua Corp.'s product is likely to decrease.
b. The elasticity of demand of Greenaqua Corp.'s product is likely to increase.
c. The profit Greenaqua Corp. earns on their line of bottled drinking water is likely to increase.
d. The elasticity of demand of Greenaqua Corp.'s product is likely to remain the same.
Answers: 2
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Greenaqua Corp. is the only supplier of bottled drinking water in the country Lithasia. Due to the p...
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