Suppose That the Demand for a Product Is Given by

question 57

Multiple Choice

Suppose that the demand for a product is given by . Find the elasticity when and also determine how would revenue be affected by a price increase? ​

• A) . A price increase will decrease the total revenue.
• B) . A price increase will decrease the total revenue.
• C) A price increase will increase the total revenue.
• D) . A price increase will increase the total revenue.
• E) . A price increase will decrease the total revenue.

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