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rubycamel31Lv1
28 Sep 2019
How would the following changes in price affect total revenue? That is, would total revenue increase, decline, or remain unchanged?
a) Price falls and demand is inelastic.
b) Price rises and demand is elastic.
c) Price rises and demand is inelastic.
d) Price falls and demand is elastic.
e) Price falls and demand is of unit elasticity.
How would the following changes in price affect total revenue? That is, would total revenue increase, decline, or remain unchanged?
a) Price falls and demand is inelastic.
b) Price rises and demand is elastic.
c) Price rises and demand is inelastic.
d) Price falls and demand is elastic.
e) Price falls and demand is of unit elasticity.
Verified Answer
Darryn D'SouzaLv10
28 Sep 2019
Jeffrey
JD Candidate at Stanford Law School30 Jun 2020
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