Winged Wonders Is a Specialty Store That Sells Butterfly Ornaments

Multiple Choice

Winged Wonders is a specialty store that sells butterfly ornaments. The owner wants to increase her total revenue and knows that the price elasticity of demand for her product is -0.4. What should she do to her price?

A) Lower it by a relatively large amount.
B) Leave it unchanged and use another way to increase sales.
C) Decrease it to zero.
D) Raise it by any amount.
E) Lower it by a relatively small amount.