If a change in the price of a product results in no change in total revenue, what must be the case? A. The demand for the product must be inelastic. B. The demand for the product must be unit elastic. C. The demand for the product must be elastic. D. The demand for the product must be revenue inelastic
If a change in the price of a product results in no change in total revenue, what must be the case? A. The demand for the product must be inelastic. B. The demand for the product must be unit elastic. C. The demand for the product must be elastic. D. The demand for the product must be revenue inelastic
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter19: Elasticity
Section: Chapter Questions
Problem 1WNG: A college raises its annual tuition from 23,000 to 24,000, and its student enrollment falls from...
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If a change in the
- A. The
demand for the product must be inelastic. - B. The demand for the product must be unit elastic.
- C. The
demand for the product must be elastic. - D. The demand for the product must be revenue inelastic.
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