When the price of a good rises, the total revenue received by the seller of that good always rises.
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Q12: When a good is perfectly inelastic in
Q13: It is very important for the seller
Q14: If the demand for cocaine is inelastic
Q15: A good is unit elastic in demand
Q16: If a good is perfectly inelastic in
Q18: Ford Mustangs would tend to be more
Q19: The more narrowly defined a good is,
Q20: Price elasticity of demand is the ratio
Q21: If quantity demanded is completely unresponsive to
Q22: If the percentage change in quantity demanded
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