Answer:
that he should reduce his prices. Yachts are luxury goods and therefore exhibit a high price elasticity of demand. Thus, reducing prices would increase revenue.
Explanation:
Luxury goods usually have a high elasticity of demand when compared with necessity goods which are highly inelastic.
An elastic demand means that a change in price would have a considerable impact on quantity demanded.
Therefore, if the price of the yachts which is a luxury good with high elasticity is reduced, demand for yachts would increase and revenue would increase.
Here is the answer
https://www.science.edu/Acellus/curriculum/career-technical-education-courses/lesson-lists/Business%20Management%20Curriculum.pdf
Answer: B
hope this helps :)
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