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  • 27-05-2024
  • Business
Answered

Let's assume there is an increase in Px in 20% and the demand price elasticity |Ep| = 4, then the following will be the corresponding impact on Revenue:
a. Total Revenue will increase in 20%
b. Total Revenue will increase in 16%
c. Total Revenue will increase in 24%
d. Total Revenue will decrease in 60%



Answer :

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