If the price of the product is increased from 3.50 to 4.20 (a 20% increase): (i) Will the revenue from selling the products go up or down? UP/DOWN (Circle one) (ii) Will the demand for the products go up or down? UP / DOWN (Circle one) By about what percentage? %

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...
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c)
If the price of the product is increased from 3.50 to 4.20 (a 20% increase):
(1) Will the revenue from selling the products go up or down? UP/ DOWN (Circle one)
(ii) Will the demand for the products go up or down? UP / DOWN (Circle one)
By about what percentage?.
_%
Transcribed Image Text:c) If the price of the product is increased from 3.50 to 4.20 (a 20% increase): (1) Will the revenue from selling the products go up or down? UP/ DOWN (Circle one) (ii) Will the demand for the products go up or down? UP / DOWN (Circle one) By about what percentage?. _%
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