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Which of the statements about prices and profit is true

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Reference no: EM132528962

Question 1: Which of the following statements about prices and profit is true?

Option 1: Higher prices always lead to lower profits because fewer units will be sold.

Option 2: Higher prices always lead to lower demand and higher profits.

Option 3: Higher prices combine with lower demand to change the level of profits.

Option 4: Higher prices will be offset by lower demand so profits will stay constant. fit is generally true?

Reference no: EM132528962

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