A good is inelastic if:
A) total revenue decreases as a result of a price increase.
B) the quantity effect outweighs the price effect of a price increase.
C) the measured elasticity is greater than 1.
D) None of these is true.
Correct Answer:
Verified
Q87: A good is inelastic if:
A)total revenue increases
Q88: If the quantity effect outweighs the price
Q89: If the quantity effect outweighs the price
Q90: A price increase will cause an increase
Q91: Demand tends to be more elastic:
A)when price
Q93: Elasticity along a demand curve:
A)is constant if
Q94: The size of the percentage change in
Q95: Which elasticity measures producers' responsiveness to a
Q96: If total revenue increases as a result
Q97: Price elasticity of supply:
A)is the size of
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