Suppose when Nablom's Bakery raised the price of its breads by 10 percent, the quantity demanded fell by 15 percent. What was the effect on sales revenue?
A) Sales revenue increased.
B) Sales revenue decreased.
C) Sales revenue remained unchanged.
D) It cannot be determined without information on prices.
B
Economics
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Which of the following is NOT a part of the monetary base?
A) Chemical Bank's deposits of reserves at the Fed B) First Bank's required reserves held at the Federal Reserve C) currency D) U.S. government securities owned by the Fed
Economics
Drug companies are allowed to be monopolists in the drugs they discover in order to
a. increase the availability of expensive but useful medications. b. increase the overall welfare of society through better health because drug companies continually produce better medications. c. encourage research. d. All of the above are correct.
Economics