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Will total revenue increase of decrease

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The goal of ABC Company is to increase total revenue. The elasticity of demand for ABC's main product is 1.4. The marketing manager is thinking of increasing price by 5% to increase total revenue. How much will quantity demanded change? According to the Law of Demand will quantity demanded go up or down? How do you find total revenue? Will total revenue increase of decrease?

Reference no: EM131178246

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