Total revenue will increase if price
A) rises and demand is elastic.
B) rises and demand is unit elastic.
C) falls and demand is inelastic.
D) falls and demand is elastic.
Correct Answer:
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Q16: When elasticity is 0.1,demand is
A)elastic.
B)inelastic.
C)unit elastic.
D)undefined.
Q17: Q18: If a car dealership decides to offer Q19: If a 1% change in price leads Q20: If demand is elastic and price is Q22: A firm that changes its price and Q23: Income elasticity of demand measures how _. Q24: The elasticity of demand for fish is Q25: In general,the fewer the substitutes available for Q26: A car dealership estimates that the elasticity
A)responsive
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