A gift shop sels ceramic figurines for $80 and crystal vases for $100. At these prices, the gift shop sells 12 ceramic figurines and 8 orystal vases pquantity demanded of ceramin figurines and crystal vases will increase to 18 units and 12 units per day, respectively.If the gift shop wants to increase revenue, which of the following actions should be taken?OA Increase the price of both ceramin figurines and crystal vasesOB. Decrease the price of both ceramic figurines and crystal vases.OC. Increase the price of ceramic figurines and decrease the price of crystal vases.OD. Decrease the price of ceramic figurines and increase the price of crystal vasesday. If the price of ceramic figurines fals to $64 and the price of crystal vases fails to $25, the

Total revenue refers to the overall amount of money generated from the sale of goods or services by…

Agit shop sells ceramic figurines for $80 and crystal vases for $100. At these prices, the gift shop sells 12 ceramic figurines and 8 orystal vases per day. If the price of ceramic figurines fals to $64 and the price of crystal vases fails to $25, th quantity demanded of ceramin figurines and crystal vases will increase to 18 units and 12 units per day, respectively If the gift shop wants to increase revenue, which of the following actions should be taken? OA. hnorease the price of both ceramin figurines and crystal vases OB. Decrease the price of both ceramic figurines and crystal vases OC. hnorease the price of ceramic figurines and decrease the price of crystal vases. OD. Decrease the price of ceramic figurines and increase the price of crystal vases

Agit shop sells ceramic figurines for $80 and crystal vases for $100. At these prices, the gift shop sells 12 ceramic figurines and 8 orystal vases per day. If the price of ceramic figurines fals to $64 and the price of crystal vases fails to $25, th quantity demanded of ceramin figurines and crystal vases will increase to 18 units and 12 units per day, respectively If the gift shop wants to increase revenue, which of the following actions should be taken? OA. hnorease the price of both ceramin figurines and crystal vases OB. Decrease the price of both ceramic figurines and crystal vases OC. hnorease the price of ceramic figurines and decrease the price of crystal vases. OD. Decrease the price of ceramic figurines and increase the price of crystal vases

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter3: Demand Analysis

Section: Chapter Questions

Problem 9E

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