A streaming subscription
service decides to lower their basic package price from $5 to $3.
Which of the following is true? Group of answer choices A. The
subscription service will have higher revenues at the lower price
since demand is inelastic. B. The quantity effect outweighs the
price effect. C. The quantity effect is $1800. D. The price effect
is $4000.
Homework Answers
C. The quantity effect is $1800.
Explanation: Subscription increases by 600 (from 2100 to 2700.). So, quantity effect = 600 * $3 = $1,800.
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