Suppose the price of a good decreases by 10% and the qu - Practice (English) | ObjectiveMcq

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Suppose the price of a good decreases by 10% and the qu - Practice (English) | ObjectiveMcq

PracticeBusiness ManagementMicroeconomicsSuppose the price of a good decreas...

Microeconomics Business ManagementEasy

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Suppose the price of a good decreases by 10% and the quantity demanded for a certain period of time increases by 15%. In these conditions:

Correct Answer:

(B) the revenues earned by producers increase

Explanation:

the revenues earned by producers increase

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