If advertising makes demand of a product more elastic, it makes sense for a firm to
a. Decrease the price of the product
b. Increase the price of the product
c. Leave the price unchanged
d. None of the above
Question 2
Using the graphical method to demonstrate the break-even point, which of the following statements is NOT true?
a. constant selling price per unit are represented by TR
b. constant variable cost per unit is represented by TC
c. variable costs increase at a constant rate of VC per unit of output
d. below the point where TR and TC intersect, operating profits are realized
e. all of these are true
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