Question on: JAMB Economics - 1997
The elasticity of demand for a firm's product is 2.
If the firm reduces its price by 20 percent, its sales revenue will increase by?
If the firm reduces its price by 20 percent, its sales revenue will increase by?
A
10 per cent
B
20 per cent
C
30 per cent
D
40 per cent
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Correct Option: D
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