Multiple Choice
KFC raises the price of its chicken nuggets. The price elasticity of demand for KFC chicken nuggets is 0.8. What happens to KFC's total revenue?
A) It decreases.
B) Nothing.
C) It increases.
D) It becomes negative.
E) It might change, but more information is needed to determine if it increases, decreases or does not change.
Correct Answer:
Verified
Correct Answer:
Verified
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