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? By: Sunday|Published on: Aug 2|Categories: Economics WAEC| 0 comments A. 10 percent B. 20 percent C. 30 percent D. 40 percent Correct Answer: Option D – 40 percent Users Also Read These:If the price elasticity of demand for a good is 0.43…If a 20% rise in the price of Whiskey leads to a 30%…When a firm's average revenue curve is…An increase in the demand for butter reduces the…In a price-taking firm; the portion UT below is the firm's?SEE ALSO The system whereby goods are exchanged for goods is known as?