Question 4.3 (a) A monopolist faces the demand curve: Q = 1000 – 20P. What is the exact value of the price elasticity of demand when the price $20 and $30 respectively (hint: refer to each of the stated price level only)? At the two stated price level, how should the monopolists change the output level to %3D maximize profit?

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Product and Price Bundling

Product and price bundling is used as a marketing strategy by businesses, where complementary products and services are combined and sold as a package deal. This bundled price is usually less than the total price of the individual products if they were to be sold separately. When bundled and sold, each product is sold at a reduced price. Using a price bundling strategy helps increase the average revenue per user and also increases the engagement with the user. This happens as the perceived value of the bundled products is more than the individual products.