You manage a pizza restaurant and want to change the price of pizza in order to increase your sales revenues. You estimate that demand for your pizza is elastic with respect to price. Which of the following would be best to do to increase your revenues?
Select one:
a. Increase the price of pizza
b. Decrease the price of pizza
c. Do not change the price of pizza.
d. Increase the price of sodas at your restaurant.
e. There is insufficient information to determine whether you should increase or decrease the price of pizza