Please reference the attachment for a case study on the Monsantos Roundup. Please provide the responses to A, B & C in a Word doc only.
(a) We know that cutting the price of Roundup was a good idea for Monsanto because when the company reduced the price by 9%, the volumes increased by 22%. This led to an increase in the sales revenues and profits of Monsanto. In 2001 the Roundup herbicides produced net sales of $2.4 billion. This was half the company's total.
(b) The elasticity of demand for 1995 can be found out by dividing the percent change in quantity demanded divided by the percent change in ...
The answer to this problem explains the mini-case study, Monsanto's Roundup. The references related to the answer are also included.