The supplier of a good decreases the price of a good but notices that the total revenue from the goods sold does not change. If this supplier wishes to increase total revenue ceteris paribus, they should… a) Increase the price of the good. b) Decrease the price of the good even further. c) They cannot increase the total revenue as total revenue has reached its maximum. d) Increase the supply of the good.
The supplier of a good decreases the price of a good but notices that the total revenue from the goods sold does not change. If this supplier wishes to increase total revenue ceteris paribus, they should… a) Increase the price of the good. b) Decrease the price of the good even further. c) They cannot increase the total revenue as total revenue has reached its maximum. d) Increase the supply of the good.
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter3: Market Demand And Supply
Section: Chapter Questions
Problem 1SQP
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The supplier of a good decreases the price of a good but notices that the total revenue from the
goods sold does not change. If this supplier wishes to increase total revenue ceteris paribus, they
should…
a) Increase the price of the good.
b) Decrease the price of the good even further.
c) They cannot increase the total revenue as total revenue has reached its maximum.
d) Increase the supply of the good.
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