When demand is inelastic,
A) price and revenue move in opposite directions.
B) price and revenue are not related.
C) price and quantity demanded move in opposite directions.
D) price and revenue move in the same direction.
Correct Answer:
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Q15: If price is cut and demand is
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
Q21: Products that have inelastic demand have many
Q22: Cross elasticity tells a manager that the
Q23: Assume that product X has a negative
Q24: Assume that product X has a positive
Q25: A manager can determine if her product
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