When price was 5,quantity demanded was 10.When price increased to 6,quantity demanded decreased to 9.Therefore,when price increased,total revenue
A) decreased from 54 to 50, indicating that demand is inelastic.
B) decreased from 54 to 50, indicating that demand is elastic.
C) increased from 50 to 54, indicating that demand is inelastic.
D) increased from 50 to 54, indicating that demand is elastic.
Correct Answer:
Verified
Q81: A decrease in price causes:
A) a quantity
Q83: A decrease in price:
A) causes a decrease
Q87: Price elasticity of supply:
A) is the percentage
Q89: When price was 10,quantity demanded was 50.When
Q93: When the quantity effect outweighs the price
Q95: Demand for a good is inelastic if:
A)
Q103: Demand tends to be more elastic when:
A)
Q108: Elasticity along a demand curve:
A) is constant
Q111: If the quantity effect outweighs the price
Q116: If total revenue increases when price increases:
A)
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