Multiple Choice
A game shop estimates that the price elasticity of demand on its newly released games is 2.0.In an effort to raise total revenue,the store should
A) increase the price on its newly released games.
B) decrease the price on its newly released games.
C) increase the price on direct substitutes such as one-year-old games.
D) decrease the price on direct substitutes such as one-year-old games.
Correct Answer:
Verified
Correct Answer:
Verified
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