If Every 10% Increase in Price Leads to a 14

question 31

Multiple Choice

If every 10% increase in price leads to a 14% decrease in quantity sold, the profit-maximizing price is closest to:

• A)$84.50
• B)$124.25
• C)$120.90
• D)$117.91

---

Definitions:

Independent Intelligences

A theory suggesting that intelligence is not a single, general ability, but rather is composed of a variety of distinct types of intelligence.

Verbal Aptitudes

The ability to understand, use, and analyze language effectively, often assessed through vocabulary tests and reading comprehension.

Adapt To New Situations

The ability to adjust and cope with changes in one’s environment or circumstances effectively.

Solve Problems

The process of finding solutions to difficult or complex issues by identifying and analyzing parts of the problem.