please answer ,question 8,9,10,11,12. 8. When the percentage change in price is greater than the resulting…
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Question “please answer ,question 8,9,10,11,12. 8. When the percentage change in price is greater than the resulting…”
Answer
8. C (Demand for the product is not elastic in the current situation, so an increase of price increases the total revenue.
9. A
(As with W and Y)
10. B
Good harvests will increase the supply, which will lower the price. Due to the inelastic supply, revenue is likely to decrease.
11. C
(More funds can be raised if there is not enough demand.
12. C
(When the demand is elastic, a decrease in the price will increase total revenue.
Conclusion
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