Refer to the Figure Below

question 134

Multiple Choice

Refer to the figure below. Suppose this demand curve shows the demand for lattes at a single coffee shop that charges $2.00 for a latte. If the manager wants to increase total revenue, what should the manager do?

• A)Increase the price from $2.00 to $3.00.
• B)Increase the price from $2.00 to $2.50.
• C)Reduce the price from $2.00 to $1.00.
• D)Reduce the price from $2.00 to $1.75.

Understand the concept and examples of branded and unbranded products.

Comprehend the stages of the product life cycle and strategies applicable at each stage.

Identify different types of products such as consumer, industrial, and services.

Understand the role and characteristics of private distributor brands.

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Definitions:

Extortion

The practice of obtaining something, especially money, through force or threats.

Rescind Agreement

To legally cancel or revoke an agreement, usually due to issues such as fraud, mistake, or breach of contract.

Economic Interests

Economic interests refer to the financial stakes or concerns that individuals, companies, or countries have in the outcome of a specific transaction, policy, or economic activity.

Misrepresentation

A false statement of fact made by one party to another party, which induces that other party to enter into a contract.