Refer to Figure 5-2. What happens to total revenue if price falls along part C of the demand curve?? Total revenue rises because demand is elastic Total revenue falls because demand is inelastic Total revenue falls because demand is elastic Total revenue does not change because demand is unit elastic
Refer to Figure 5-2. What happens to total revenue if price falls along part C of the demand curve?? Total revenue rises because demand is elastic Total revenue falls because demand is inelastic Total revenue falls because demand is elastic Total revenue does not change because demand is unit elastic
Chapter6: Elasticities
Section: Chapter Questions
Problem 11P
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