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12-06-2024
Business

Answered

A firm is facing a downward sloping demand curve. The firm has developed a new technology which has reduced its costs by £4 per unit. As a result it has now lowered its prices by 2 GBP and increased it supplied quantity by 2 units. What will happen to its revenues?
a. They will stay the same.
b. It is impossible to say.
c. They will increase.
d. They will decrease.

Answer :

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