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Why is increase in price money likely to decrease the total revenue of seller in the long run than in short run

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Why is increase in price money likely to decrease the total revenue of seller in the long run than in short run

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Total revenue of a seller is price times quantity of output sold.

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