Producers' total revenue will decrease if the price rises and demand is elastic. income increases and the good is a normal good. income falls and the good is an inferior good. the price rises and demand is inelastic.

Producers' total revenue will decrease if the price rises and demand is elastic. income increases and the good is a normal good. income falls and the good is an inferior good. the price rises and demand is inelastic.

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter6: Elasticity

Section: Chapter Questions

Problem 3WNG: The quantity demanded of good X rises from 130 to 145units as income rises from 2,000 to 2,500 a...

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Producers' total revenue will decrease if

the price rises and demand is elastic.

income increases and the good is a normal good.

income falls and the good is an inferior good.

the price rises and demand is inelastic.

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