Business, 04.06.2020 20:03 kaylaelaine18
A firm sells 3,000 headphones at a price of $3 per unit. Even though this price is slightly higher than competing brands, the management is considering a further increase in price by 25 cents. The firm plans to focus advertising efforts on superior sound clarity. Rachel, the firm's marketing head, feels confident that a price increase by 25 cents will increase revenue. Industry analysts are of the opinion that even though the revenue is likely to increase, the firm must be careful of rivals who are actively competing for higher market share. Which of the following, if true, would indicate that any increase in price from $3 would reduce the firm's total revenue? (Assume the demand curve is linear.)
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A firm sells 3,000 headphones at a price of $3 per unit. Even though this price is slightly higher t...
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