If a store sells a good that has a unitary elastic demand, what would be the net result on their total revenue from an increase in price? There would be an initial increase, followed by a decrease, in total revenue. There would be a decrease in total revenue. There would be no change in total revenue. There would be an increase in total revenue.

If a store sells a good that has a unitary elastic demand, what would be the net result on their total revenue from an increase in price? There would be an initial increase, followed by a decrease, in total revenue. There would be a decrease in total revenue. There would be no change in total revenue. There would be an increase in total revenue.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter6: Elasticities

Section: Chapter Questions

Problem 6P: Explain why using the midpoint formula for calculating the elasticity of demand gives the same...

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