An increase in the price of the good will increase the turnover (total revenue) received by the firm. Consequently, the changes will appear in the Trading Account, section of the profit and loss account.

The higher price will;

• Increase gross profit
• Increase operating profit
• Increase profit on ordinary activities before tax
• Increase profit after tax
• Increase retained profit carried forward

The starting level of the price is set at £9.10. The input parameters can range between £9.00 and £10.00.

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