each of the seven rules and apply them to the success of your firm. And more specifically, how would you use the rules to estimate the key variables: Elasticity of demand, markup, MC and MR? Finally, are there other lessons/suggestions from the textbook that you feel are viable, or, perhaps nonsensical? The Rule #1: Know Your Market Apple Inc. needs to know their market. If they do not know their market they cannot make good or sound business decisions. Apple needs to know their elasticity…
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