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A business sells soft drinks at S3 a bottle and its current sales are 20,000 bottles per month. The price elasticity of demand for this product is -2 If the price is reduced to $2 70, the change in the total revenue for the business will be:
Suggested Answer: A
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9 comments · newest first
RA
Raina
12 months ago
Revenue definitely changes, but I’m not sure about that exact number.
HU
Hui
1 year ago
I think it's +$4,000 based on the calculations.
TR
Truman
1 year ago
Wait, how can revenue go up if the price is lower? Sounds off.
CA
Catina
1 year ago
Totally agree, a price drop should boost sales significantly!
TH
Theola
1 year ago
The price elasticity is -2, so demand is quite responsive.
WI
Willodean
1 year ago
Okay, I think I've got this. Importing the table and adding a filter is the right solution here. As long as the filter step meets the requirements, this should work.
SH
Shonda
1 year ago
This looks like a tricky question. I'll need to carefully review the syntax for using macros in Splunk searches.
SA
Sang
1 year ago
I remember discussing the importance of testing with different device quantities. Option D might be the best choice after all.
FR
Francisca
1 year ago
I remember learning about the different parts of a BMP file in class. I think the information header is the one that specifies the dimensions and other technical details, so I'll go with option C.