If the elasticity of demand for cigarettes is 0.4,a seller should
A) Increase price to increase total revenue.
B) Decrease price to increase total revenue.
C) Reduce price to maximize profits.
Correct Answer:
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Q19: If demand is price-elastic,then
A)The elasticity number E
Q20: If the price elasticity of demand is
Q21: If demand is elastic,then
A)An increase in price
Q22: Total revenue is equal to
A)The income from
Q23: Which of the following is likely to
Q25: If the price elasticity of demand is
Q26: Higher prices will increase total revenue if
A)Demand
Q27: Total revenue is
A)Price times income.
B)Quantity sold times
Q28: Which of the following is not a
Q29: If the price elasticity of demand for
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