Suppose that victoria and her friends are running a, Business Economics

Suppose that victoria and her friends are running a

Suppose that Victoria and her friends are running a fundraiser by selling donuts. They want to know what will happen to their revenue if they increase the price of each donut from $0.80 to $1. What concept do they need to apply to find out their expected revenue?

a. price elasticity of supply

b. price elasticity of demand

c. cross elasticity of demand

d. income elasticity of demand

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