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A firm is facing a downward sloping demand curve. The firm has developed a new technology which has reduced its costs by £4 per unit. As a result it has now lowered its prices by 2 GBP and increased it supplied quantity by 2 units. What will happen to its revenues? a. They will stay the same. b. It is impossible to say. c. They will increase. d. They will decrease.
Sagot :
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