Multiple Choice
If Carmen's Coffee Company wants to increase total revenue and the price elasticity of demand is 0.43,the company should
A) Increase the price of its coffee.
B) Decrease the price of its coffee.
C) Keep the price constant since a price increase or decrease will cause total revenue to fall.
D) Advertise since this is the only option that will increase total revenue.
Correct Answer:
Verified
Correct Answer:
Verified
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