Other Things Equal,if a Firm Finds the Demand for One

question 193

Multiple Choice

Other things equal,if a firm finds the demand for one of its products is inelastic,it can INCREASE its total revenues by:

• A)raising its price.
• B)lowering its price.
• C)reducing fixed costs.
• D)reducing variable costs.

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Definitions:

Lactose Maldigestion Intolerance

A condition where the body is unable to properly digest lactose, leading to symptoms such as bloating, diarrhea, and gas.

Calcium Supplement

Dietary supplements taken to ensure adequate intake of calcium, a vital mineral for bone health and proper functioning of the heart and muscles.

Hard Cheese

A type of cheese that has a firm texture and is often aged longer, resulting in a sharper and more pronounced flavor.

Methylphenidate

A central nervous system stimulant medication commonly used to treat Attention Deficit Hyperactivity Disorder (ADHD) and certain sleep disorders.