Exhibit 5-7 -Between Points B and C in Exhibit 5-7, Price Decreases

question 228

Multiple Choice

Exhibit 5-7
-Between points b and c in Exhibit 5-7, price decreases by $1, quantity demanded increases by 10,

• A) total revenue decreases by $1, and demand is elastic
• B) total revenue decreases by $1, and demand is inelastic
• C) total revenue increases by $40, and demand is elastic
• D) total revenue increases by $40, and demand is inelastic
• E) and total revenue increases by $80

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