If the seller of good X raises the price of good X, it follows that the total revenue of good X will __________, if demand is __________.
A) fall; inelastic
B) rise; elastic
C) fall; unit elastic
D) fall; elastic
Correct Answer:
Verified
Q142: As the price of good X rises
Q154: All other things being equal, the _
Q155: Exhibit 19-7 Q156: All other things being equal, the _ Q157: If total revenue rises as a result Q160: The demand curve for good X is Q161: Income elasticity of demand for an inferior Q162: If a good is income elastic, it Q163: If price elasticity of supply is greater Q170: Income rises from $3,500 to $4,000 a
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