You Are the Sales Manager for a Software Company and Have

question 50

Multiple Choice

You are the sales manager for a software company and have been informed that the price elasticity of demand for your most popular software is less than 1. In order to increase total revenues from that product, you should

• A)increase the price of the software.
• B)decrease the price of the software.
• C)hold the price of the software constant.
• D)increase the supply of the software.

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Definitions:

Ectoderm

The outermost layer of cells or tissue of an embryo, giving rise to the outer skin layer, nervous system, and various sensory organs.

Endoderm

The innermost layer of cells or tissues of an embryo in early development, or the lining of the digestive and respiratory tracts in the mature organism.

Jellylike Matrix

A viscous, gelatinous substance that provides structural support and medium for cell components in various tissues, including the extracellular matrix of connective tissue.

Schistosomiasis

A disease caused by infection with freshwater parasitic worms in certain tropical and subtropical regions.