I : Increase :: Descend : III. (A) Grow (B) Decrease (C) Rise (D) PriceII. (P) Reduce (Q) Down (R) Ascend (S) Mountain
An increase in demand leads to a decrease in both the equilibrium price and the equilibrium quantity. A decrease in demand leads to a rise in both the equilibrium price and the equilibrium quantity.
A trader dealing in pressure cooker reduced the price by 20% as a result of which his sale went up by 80%. What was the net effect on his sales income? (A)44% decrease (B)44% increase (C)66% increase (D)66% decrease