A. 10 percent
B. 20 percent
C. 30 percent
D. 40 percent
Correct Answer:
Option D – 40 percent
The elasticity of demand for a firm’s product is 2. If the firm reduces its price by 20 percent, its sales revenue will increase by?
Products
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Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.
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Co-Ownership Structures and Land Acquisition Methods in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.
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Rights in Community Land and Fundamental Land Concepts in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.
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Customary Land Control and the Origins of Nigeria's Land Use Act
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.
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Land Ownership Principles and Transaction Laws in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.