When the price of a good rises, total revenue will fall if the good is elastic in demand.
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Q5: From the sellers' perspective, it is most
Q6: It is impossible for a given good
Q7: If a good is a normal good,
Q8: Cross elasticity of demand measures consumer responsiveness
Q9: Income elasticity of demand measures the responsiveness
Q11: The existence of substitutes for a good
Q12: When a good is perfectly inelastic in
Q13: It is very important for the seller
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Q15: A good is unit elastic in demand
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