A firm could lower prices and still increase revenue if:

a. the elasticity of demand is equal to unity

b. the elasticity of demand is equal to zero

c. the demand is inelastic

d. when the demand is elastic

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12) If the total expenditure on perfume increases when the price of perfume falls, the price elasticity of demand is A) greater than one (demand is elastic). B) less than one (demand is inelastic). C) unity (demand is unit elastic). D) not determinable from the information given. E) exactly zero.

Determine whether the demand is elastic, inelastic, perfectly elastic, or perfectly inelastic if

1. elasticity is greater than 1

2. elasticity is equal to zero

yellowmule81

2. If the total revenue of clothing manufacturers decreases when the price of clothing falls, the elasticity of demand is a. greater than one (demand is elastic). b. less than one (demand is inclastic). c unity (demand is unit elastic). d. not determinable from the information given. e exactly zero.

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A firm could lower prices and still increase revenue if:

a. the elasticity of demand is equal to unity

b. the elasticity of demand is equal to zero

c. the demand is inelastic

d. when the demand is elastic

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A firm could lower prices and still increase revenue if: a. the elasticity of demand is equal to unity b. the elasticity of demand is equal to zero c. the demand is inelastic d. when the demand is elastic

Unlock all answers

Related textbook solutions

Principles of Economics

Principles of Macroeconomics

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Weekly leaderboard

A firm could lower prices and still increase revenue if:

a. the elasticity of demand is equal to unity

b. the elasticity of demand is equal to zero

c. the demand is inelastic

d. when the demand is elastic