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you are the CEO of a bagel chain store, which has monopoly in the sales of bagels, and your marketing department comes to you with
you are the CEO of a bagel chain store, which has monopoly in the sales of bagels, and your marketing department comes to you with an estimate of 1.3 for the price elasticity of demand for bagels. You can, based on this information, conclude that: a. If you increase the unit price of your bagels, your total revenue will decrease. b. If you increase the unit price of your bagels, your total revenue will increase. c. If you increase the unit price of your bagels, your total revenue will remain the same. d. We don't have enough information to answer this
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