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24 September, 11:23

In general, in order for a price increase to cause an increase in total revenue, demand must be

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  1. 24 September, 13:45
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    Answer: high

    Explanation:

    The price elasticity of demand can be used to determine how an increase in price will affect demand. A higher price will cause a reduction in demand, so it is necessary to carefully work out price elasticity before trying to increase revenue.

    The current demand should be sufficiently high to justify the lowered demand when a price increase is put into effect.
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