To Maximise Its Revenue

question 4

Multiple Choice

To maximise its revenue,

• A) a firm facing elastic demand should always raise its price.
• B) a firm should always charge the highest price possible regardless of the elasticity of demand.
• C) a firm facing inelastic demand should always raise its price.
• D) None of the above answers is correct.

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Definitions:

Double-Helix Structure

The double-helix structure refers to the spiral shape of DNA, consisting of two strands that wind around each other, likened to a twisted ladder.

Hydrogen Bonds

Weak bonds between two molecules caused by the electrostatic attraction between a proton in one molecule and an electronegative atom in the other.

Structure Of DNA

The double helix configuration consisting of two strands wound around each other, with bases paired in the interior.

James Watson

An American molecular biologist, geneticist, and zoologist, co-discoverer of the structure of DNA alongside Francis Crick.