You are running a small business and are thinking about ways to increase your profits. assume you are facing an elastic demand. would you raise or lower your prices? a. raise because revenues would increaseb. lower because revenues would increasec. raise because revenues and costs would decreased. lower because revenues would increase and costs would decreasee. i do not know because i cannot tell how much costs would change in relationship to revenues

Jiffy printing shops does a lot of printing job for college students. the shop use an average of 25 cases of copy paper each day during the 312 days last year. the shop opens 6 days a week for 52 weeks each year and closes on sundays. each case of paper costs $35. it conducts a count of its paper inventory at the end of every quarter of the year. the table below shows the inventory counting records for last year. inventory end of quarter 1 700 cases end of quarter 2 1,050 cases end of quarter 3 920 cases end of quarter 4 800 cases 1. what's jiffy's cost of goods sold last year? 2. what's jiffy's average aggregate inventory value? 3. what's jiffy's inventory turnover last year? 4. what is the printing shop's weeks of supply last year?