Multiple Choice
You are the only seller of eggs in town, and the price-elasticity coefficient for eggs is known to be 0.8.If you want to increase your sales quantity by 10 percent through a price change, what should you do to price?
A) increase price by 12.5 percent
B) reduce price by 12.5 percent
C) increase price by 8 percent
D) reduce price by 8 percent
Correct Answer:
Verified
Correct Answer:
Verified
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