Revenue at a major smartphone manufacturer was $2.4 billion for the nine months ending March 2, up 86 percent over revenues for the same period last year. Management attributes the increase in revenues to a 123 percent increase in shipments, despite a 37 percent drop in the average blended selling price of its line of phones. Given this information, is it surprising that the company's revenue increased when it decreased the average selling price of its phones?
No. Own price elasticity is -3.32, which means demand is elastic and a decrease in price will raise revenues
No. Own price elasticity is-0.30, which means demand is elastic and a decrease in price will raise revenues
Yes. Own price elasticity is -3.32, which means demand is elastic and a decrease in price will decrease revenues.
Yes. Own price elasticity is-0.30, which means demand is inelastic and a decrease in price will decrease revenues.

answer; ///i believe the correct   answer is (e) transformational;

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answerangel investor;