Given the information in Scenario 4.3, suppose that the price of erase
Given the information in Scenario 4.3, suppose that the price of erasers increases slightly from $10. How will this affect the total revenue collected by the firm?
A) Total revenue will increase.
B) Total revenue will not change.
C) Total revenue will decrease.
D) There will be an indeterminate change in total revenue.
ANSWER
A
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