Multiple Choice
Jerry sells cherry sno-cones along the boardwalk in New Jersey. During the summer this is a perfectly competitive business, and Jerry faces a perfectly elastic demand curve. If he wants to try to increase revenues he should
A) raise the price of his sno-cones to make more per sale.
B) lower the price of his sno-cones to try to sell more.
C) keep the price the same but produce more to increase sales.
D) do nothing; there is nothing he can do to increase revenue.
Correct Answer:
Verified
Correct Answer:
Verified
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