If the demand for a good is price inelastic,a decrease in total revenue from the good would result from a(n)
A) increase in price
B) decrease in quantity demanded
C) favorable shift in tastes and preferences
D) decrease in price
E) increase in consumers' incomes
Correct Answer:
Verified
Q62: Q63: Suppose a local bookstore notices that a Q64: If demand is price inelastic,a decrease in Q65: Demand for goods in broader category definitions,such Q66: Which of the following goods is likely Q68: A public university knows that demand from Q69: If demand is perfectly inelastic,a decrease in Q70: If demand is price inelastic, Q71: Consider a good with a price elasticity Q72: If demand is unitary elastic,a price decrease
A)price and total
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