Total revenue from the sale

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If the price of 35 inch HDTVs declines by 20% and the total revenue from the sale of 35 inch HDTVs rises, what can you say about the price elasticity of demand for 35 inch HDTVs? Will this price reduction necessarily lead to an increase in profits for manufacturers of HDTVs?

Explain why.

Reference no: EM13914305

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