How would the following changes in price affect total revenue? That is, total revenue increase, decrease or remain unchanged?  a.price falls and demand is inelastic  b.price rises and demand is elastic  c.price rises and supply is elastic  d.price rises and supply is inelastic  e.price rises and demand is inelastic  f.price falls and demand is elastic  g.price falls and demand is of unit-elasticity

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Q: How would the following changes in price affect total revenue? That is, would total revenue…

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Q: How would the following changes in price affect total revenue? That is, would total revenue…

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Q: price elasticity of demand

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A: Answer -

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