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Question: Katie Graham owns a kayak rental service in Santa Barbara. The table below shows her estimated demand schedule for kayak rentals per week. She would like to increase her sales revenue by changing the price she charges for rentals. At present she charges $75. Based on the information in the table, Katie

A. is not able to increase her revenue by changing her price because the demand for kayak rentals is unit - elastic.

B. should lower her price to exist60 to increase her revenue because the demand for kayak rentals is price elastic.

C. should raise her price to exist80 to increase her revenue because the demand for kayak rentals is price inelastic.

D. should raise her price to earn the most revenue.

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Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M92585848

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