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If the price elasticity of demand is -0.8 and the firm increases price, revenue will a. Decrease b. Stay constant c. Increase d. Become zero
If the price elasticity of demand is -0.8 and the firm increases price, revenue will a. Decrease b. Stay constant c. Increase d. Become zero (they would lose all their customers)
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Survey of Accounting
Authors: Carl S. Warren
7th edition
1285974360, 1285183487, 9781285974361, 978-1285183480
