If demand is ________ with respect to price, a price increase will ________ total revenue. unit elastic; decrease elastic; increase inelastic; increase inelastic; decrease
If demand is ________ with respect to price, a price increase will ________ total revenue. unit elastic; decrease elastic; increase inelastic; increase inelastic; decrease
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 6SQ: If a decrease in the price of movie tickets increases the total revenue of movie theaters, this is...
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If demand is ________ with respect to price , a price increase will ________ total revenue.
unit elastic; decrease
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elastic; increase
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inelastic; increase
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inelastic; decrease
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