If price is cut and demand is inelastic, then
A) total revenue will fall.
B) total revenue will not change.
C) quantity demanded will fall
D) total revenue will rise.
Correct Answer:
Verified
Q12: Companies spend _ on pricing decisions.
A)too much
Q13: If price is cut and demand is
Q14: If demand is perfectly elastic,
A)the smallest increase
Q15: If price is cut and demand is
Q16: If demand is perfectly elastic, then
A)demand and
Q18: If price elasticity is 3.25 then
A)for every
Q19: When demand is unit elastic
A)price and revenue
Q20: When demand is inelastic,
A)price and revenue move
Q21: Products that have inelastic demand have many
Q22: Cross elasticity tells a manager that the
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