Revenue and elasticity- refer to problem if the current, Ask an Expert

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Revenue and elasticity:-

Refer to Problem. If the current price of a hamburger is $4.00, will a 10% price increase cause revenue to increase or decrease?

Problem
The price demand equation for hamburgers at a fast-food restaurant is X+400P=3,000. Currently, the price of a hamburger is $3.00. If the price is increased by 10%, will revenue increase or decrease?

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Business Management, Management Studies

Category:- Business Management
Reference No.:- M92023494

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