If the Price of Tuna Fish Increases from 50 Cents

question 195

Multiple Choice

If the price of tuna fish increases from 50 cents to 60 cents per can and the quantity demanded decreases from 100 cans to 50 cans, then the tuna fish producer could increase its total revenue by

• A) lowering price.
• B) decreasing quantity supplied.
• C) leaving price the same.
• D) raising price.
• E) decreasing supply.

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Definitions:

Performance

The act of carrying out or accomplishing an action, task, or function.

Social Loafing

A phenomenon wherein individuals exert less effort to achieve a goal when they work in a group than when they work alone.

Challenge Response

A reaction mechanism to a challenge in which an entity (person, group, or organization) mobilizes resources and adapts to overcome the obstacle.

Threat Response

The reaction or actions taken by an individual or group when faced with a perceived danger or threatening situation.