A Single Producer,whose Objective Is to Raise Total Revenue,would Raise

question 11

Multiple Choice

A single producer,whose objective is to raise total revenue,would raise the price of its product if it is operating in the portion of the demand curve with price elasticity of demand equal to

• A) 0.
• B) 0.5.
• C) 1.
• D) 2.
• E) any value;prices should be raised regardless of the price elasticity of demand.