If the price of a product decreases by 10 percent and the quantity demanded increases by 5 percent, then
A) the producer should lower the price further to sell more and further increase total revenue.
B) the producer should raise the price, but not as high as it was, to increase total revenue.
C) the producer should raise the price higher than where it was to experience higher total revenue.
D) total revenue will not be affected by price changes.
E) the producer should change the price back to where it was before the change.

Question

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The Answer of If the price of a product decreases by 10 percent and the quantity demanded increases by 5 percent, then
A) the producer should lower the price further to sell more and further increase total revenue.
B) the producer should raise the price, but not as high as it was, to increase total revenue.
C) the producer should raise the price higher than where it was to experience higher total revenue.
D) total revenue will not be affected by price changes.
E) the producer should change the price back to where it was before the change.

If the Price of a Product Decreases by 10 Percent