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Economics

If price rises very slightly from P = 24,

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Suppose that the demand for a product is P = 50 – 2Q. If price rises very slightly from

P = 24,

A. total expenditure will rise.

B. total expenditure will fall.

C. total expenditure will not change.

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