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What happens to total revenue (TR) if the price rises on a product with demand that is price elastic? Total revenue will remain the same. Total revenue will fall. Total revenue will rise

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter5: Price Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 7SQP: Suppose a movie theater raises the price of popcorn 10 percent, but customers do not buy any less...

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What happens to total revenue (TR) if the price rises on a product with demand that is price elastic?

Total revenue will remain the same.
Total revenue will fall.
Total revenue will rise.

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