A price that is 1% less than optimal results in _______ less operating profit.
A) 1%
B) 3%
C) 5%
D) 8%
E) 11%

Name: A price that is 1% less than optimal results in _______ less operating profit. A) 1% B) 3% C) 5% D) 8% E) 11%
Brand: Quizplus
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Question

Quizplus · Accepted Answer

According to the rule of thumb, a 1% decrease in price results in an 8% decrease in operating profit. Therefore, if the price is 1% less than optimal, the operating profit will be 8% less than optimal.

A Price That Is 1% Less Than Optimal Results in _______