Josh Mows Lawns

question 219

Multiple Choice

Josh mows lawns.If the demand for lawn-mowing service is elastic and Josh wants to increase his total revenue,he should

• A)increase the price of his lawn-mowing service.
• B)decrease the price of his lawn-mowing service.
• C)reduce the costs of operating his lawn-mowing service.
• D)More than one of the above is correct.

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Definitions:

Interest

The cost of borrowing money or the return on investment for lending money, determined as a percentage of the principal amount.

Desired Amount

The specific sum of money or financial goal an individual or entity aims to achieve.

Monthly Rate

The interest rate or other fees assessed on a monthly basis, often used in loans and financial agreements.

Student Loan

A loan offered to students which is used to pay off educational expenses and is repayable after graduation, typically with interest.