Chapter 20 - Assignment 1: Bill Gates' Speech at the Microsoft CEO Summit
Read Bill Gates' speech at the Microsoft CEO summit.
- In this speech, Bill Gates uses the term demand elasticity twice (dealing with computers and high speed data lines). Is he referring to price, income, or cross-price elasticity of demand?
- Is he correct in arguing that revenue will increase when production costs fall (and supply increases) when demand is elastic? Explain.
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