If price is cut and demand is inelastic, total revenue will fall because
A) the change in quantity demanded is less than the percent change in price.
B) the percent change in quantity demanded is less than the change in price.
C) the percent change in quantity demanded is less than the percent change in price.
D) customers can find substitutes.
Correct Answer:
Verified
Q10: According to the case, price has a
Q11: If price elasticity is 3.25, then demand
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
Q16: If demand is perfectly elastic, then
A)demand and
Q17: If price is cut and demand is
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
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