Answer
increase the price
Work Step by Step
\$1 is in the lower portion of the demand curve where demand is inelastic. Revenue can be increased by raising the price.
Microeconomics: Principles, Applications, and Tools (8th Edition)
by O'Sullivan, Arthur; Sheffrin, Steven; Perez, Stephen
Published by
Prentice Hall
ISBN 10:
0-13294-886-9
ISBN 13:
978-0-13294-886-9
Chapter 5 - Elasticity: A Measure of Responsiveness - Exercises - 5.3 Elasticity and Total Revenue for a Linear Demand Curve - Page 123: 3.9
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