A firm that changes its price and sees no change in the total revenues it receives is facing demand that is
A) price inelastic.
B) revenue inelastic.
C) unit elastic.
D) price elastic.
Correct Answer:
Verified
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 Q21: Total revenue will increase if price 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 Q27: The elasticity closest to unit elastic would
A)rises and
A)responsive
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