If the quantity sold of two-liter Coke bottles increases by 10% when price falls by 2%, what is the total change in revenue?
a. Revenue increases by 12%
b. Revenue increases by 8%
c. Revenue falls by 8%
d. Revenue falls by 12%
b
Economics
You might also like to view...
Price discrimination exists when
A) a firm charges different buyers different prices for its product but the costs are the same. B) each buyer is treated equally. C) sales are made below cost. D) a firm charges each buyer a price of the product in proportion to its costs.
Economics
The United States tends to rely more on private health insurance than other countries do.
Answer the following statement true (T) or false (F)
Economics