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

question 33

Multiple Choice

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

• A) lowering its price.
• B) increasing fixed costs only.
• C) increasing variable costs only.
• D) increasing both fixed and variable costs.
• E) raising its price.

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Definitions:

Technological Change

The innovation and adoption of new technologies that modify the way goods or services are produced, distributed, or consumed.

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to increased connections among the world's economies, cultures, and populations.

Needs Assessment

A systematic process used to determine and address gaps between current conditions and desired conditions or wants, often used in project planning and employee development.

Chief Learning Officers

Executives responsible for overseeing an organization's learning and development strategy to align employee growth with business goals.