If the price elasticity of demand for a product is 0.8 and its unit cost remains constant, a 10% increase in its selling price will most likely result in:
Exam-Like
A
No change in the cost of sales.
12.5%
B
An 8% reduction in sales volume.
50.0%
C
An 8% increase in total revenue.
37.5%
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If the price elasticity of demand for a product is 0.8 and its unit cost remains constant, a 10% increase in its selling price will most likely result in: | Chartered Financial Analyst Level 1 Quiz - LeetQuiz
