Find out the account for change, Accounting Basics

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Find out the account for change

Problem:

You increased rates by 10 percent across all services and profits decreased by 5 percent. Cost per unit remained constant. What could account for this change?

Positive price elasticity
Negative price elasticity
High proportion of fixed price payers
High proportion of cost payers

Note: Please show the work not just the answer.

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Accounting Basics: Find out the account for change

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Accounting Basics: Find out the account for change

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