5. demand *Refer to the above figure. What happens to total revenue if price rises along part A of the curve? a. Total revenue rises because demand is elastic b. Total revenue falls because demand is inelastic C. Total revenue falls because demand is elastic d. Total revenue does not change because demand is unit elastic
5. demand *Refer to the above figure. What happens to total revenue if price rises along part A of the curve? a. Total revenue rises because demand is elastic b. Total revenue falls because demand is inelastic C. Total revenue falls because demand is elastic d. Total revenue does not change because demand is unit elastic
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 7SQP: Suppose a movie theater raises the price of popcorn 10 percent, but customers do not buy any less...
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