When price was 10,quantity demanded was 50.When price increased to 12,quantity demanded decreased to 40.Therefore,when price increased,total revenue
A) decreased from 500 to 480, indicating that demand is inelastic.
B) decreased from 500 to 480, indicating that demand is elastic.
C) increased from 480 to 500, indicating that demand is inelastic.
D) increased from 480 to 500, indicating that demand is elastic.
Correct Answer:
Verified
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A) causes a decrease
Q84: An increase in price causes:
A) a decrease
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Q87: Price elasticity of supply:
A) is the percentage
Q92: When price was 5,quantity demanded was 10.When
Q93: When the quantity effect outweighs the price
Q103: Demand tends to be more elastic when:
A)
Q108: Elasticity along a demand curve:
A) is constant
Q110: A linear demand curve:
A) has a constant
Q111: If the quantity effect outweighs the price
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