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Figure 7-13 -Refer to Figure 7-13. a Decrease in Price from $15

Question 94

Multiple Choice

Figure 7-13 Figure 7-13 -Refer to Figure 7-13. A decrease in price from $15 to $10 leads to A) a decrease in total revenue of $10, so the price elasticity of demand is greater than 1 in this price range. B) a decrease in total revenue of $10, so the price elasticity of demand is less than 1 in this price range. C) a decrease in total revenue of $20, so the price elasticity of demand is less than 1 in this price range. D) a decrease in total revenue of $20, so demand is elastic in this price range.
-Refer to Figure 7-13. A decrease in price from $15 to $10 leads to


A) a decrease in total revenue of $10, so the price elasticity of demand is greater than 1 in this price range.
B) a decrease in total revenue of $10, so the price elasticity of demand is less than 1 in this price range.
C) a decrease in total revenue of $20, so the price elasticity of demand is less than 1 in this price range.
D) a decrease in total revenue of $20, so demand is elastic in this price range.

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