(a) Explain how the life cycle of a product affects the pricing strategy a firm will put in place (b) The demand for "Advanced Economic Theory" book is given by the following function: Q=20,000-60P (i) (ii) Compute the point price elasticity of demand at the price of shs. 200 If the objective of the printer is to increase revenue from the sales of books, should the price be increased or decreased? 2 Scanned with CamScanner (c) Explain why an investor would prefer current cash receipts to future cash receipts (5marks)