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Suppose When Nablom's Bakery Raised the Price of Its Breads

Question 240

Multiple Choice

Suppose when Nablom's Bakery raised the price of its breads by 10 percent, the quantity demanded fell by 15 percent.What was the effect on sales revenue?


A) Sales revenue increased.
B) Sales revenue remained unchanged.
C) Sales revenue decreased.
D) It cannot be determined without information on prices.

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