If the Demand Curve Is Elastic a Price ________ Causes

question 147

Multiple Choice

If the demand curve is elastic a price ________ causes a(n) ________ in revenues.

• A) decrease; decrease
• B) increase; increase
• C) decrease; increase
• D) There is not enough information to answer.

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Definitions:

Environmental Scanning

The act of monitoring developments outside the firm’s control with the goal of detecting and responding to threats and opportunities.

SWOT Analysis

A strategic planning tool used to identify Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.

Environmental Scanning

The process of systematically gathering, analyzing, and managing external information about the factors that could impact an organization's future plans.

Marketing Position

The unique space a brand or product occupies in the minds of the target market, often relative to competitors.