Multiple Choice
If the demand function for city bus rides is P = 100 - 10Q and the present price of a ride is 50, then
A) raising prices will increase city revenue.
B) raising prices will decrease city revenue.
C) raising prices will not change city revenue.
D) from the information given it is not clear what would happen to city revenue if price is increased.
Correct Answer:
Verified
Correct Answer:
Verified
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