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Shelia owns a bakery and knows that the demand for its product is elastic. If she desires to increase revenues, she should: Increase price because

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Shelia owns a bakery and knows that the demand for its product is elastic. If she desires to increase revenues, she should: Increase price because the higher price will increase revenues with an elastic demand Increase price because the percentage decrease in quantity will be less than the percentage increase in price Not change her price because revenues could increase or decrease depending on this firm's cost structure Decrease price because the percentage increase in quantity will be more than the percentage drop in price Either a) or c) is correct

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