Ask Question
BusinessBusiness
18 January, 23:53

In general, in order for a price increase to cause an increase in total revenue, demand must be

+3
Answers (1)
  1. 19 January, 02:18
    0
    Answer: high

    Explanation:

    The price elasticity of demand can be used to determine how an increase in price will affect demand. A higher price will cause a reduction in demand, so it is necessary to carefully work out price elasticity before trying to increase revenue.

    The current demand should be sufficiently high to justify the lowered demand when a price increase is put into effect.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “In general, in order for a price increase to cause an increase in total revenue, demand must be ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Which of the following is typically included in the planning stage of writing an effective business message?
Answers (1)
Which of the following groups of employees is not covered by social security insurance? select one: a. self-employed persons b. clergy c. most military personnel d. railroad workers?
Answers (1)
In what IT pathway would you most likely need to be familiar with the system development life cycle
Answers (1)
How did central planning affect consumers in the former soviet union? government-provided housing was costly but readily available. consumers often had to wait in long lines to purchase goods and services.
Answers (1)
Give four examples of routine decisions.
Answers (1)
New Questions in Business
When prisly inc. introduced a liquid detergent in the market, it noticed that the sales of its detergent powder significantly declined. prisly inc.'s loyal customers who previously purchased detergent powder switched to liquid detergent.
Answers (1)
The government often provides goods that are nonrivalrous and nonexclusive to overcome which market failure? question 15 options: a. negative externality (external costs) b. positive externality (external benefits) c. asymmetric information d.
Answers (1)
Gordon is over 65. how does that affect his tax return? a. there is no effect. b. it increases his standard deduction. c. it increases his personal exemptions. d. he must itemize his deductions.
Answers (1)
Cambodian Import Company purchased a depreciable asset for $160,000 on April 1, 2014. The estimated salvage value is $40,000, and the estimated useful life is 5 years. The straight-line method is used for depreciation.
Answers (1)
Determine which of the following countries would be classified as 'growth miracles' or 'growth disasters'.
Answers (1)
Home » Business » In general, in order for a price increase to cause an increase in total revenue, demand must be
Sign Up Forgot Password?