If demand is elastic, then total revenue would decrease if price were lowered.
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Q7: A "demand schedule" for a television manufacturer
Q8: A single demand curve can have both
Q9: Economists usually assume that customers have a
Q10: When a large number of substitutes are
Q11: Most demand curves are upward-sloping--to the right.
Q13: The availability of substitutes is one important
Q14: If demand is inelastic, then total revenue
Q15: If demand is elastic, then total revenue
Q16: If a firm lowered the price of
Q17: If total revenue remains the same when
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