If the Local Electricity Utility Wants to Raise Revenues,it Should

question 26

Multiple Choice

If the local electricity utility wants to raise revenues,it should _______ its price because demand for electricity is likely to be ________.

• A)lower;inelastic
• B)raise;elastic
• C)lower;elastic
• D)raise;inelastic

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Definitions:

Services

Services involve non-tangible tasks performed for a fee, offering benefits, help, or satisfaction to customers without producing physical goods.

Account

An arrangement by which an individual or entity keeps track of their financial transactions and positions with another entity.

Accounting Records

Documents that businesses use to track their financial transactions and maintain financial accountability.

Journal

A record where all financial transactions are initially noted before they are posted to individual accounts in the ledger.