Suppose that the demand for a product is given by . Find the elasticity when
and also determine how would revenue be affected by a price increase?
A) . A price increase will decrease the total revenue.
B) . A price increase will decrease the total revenue.
C) A price increase will increase the total revenue.
D) . A price increase will increase the total revenue.
E) . A price increase will decrease the total revenue.
Correct Answer:
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