If Demand Is Elastic,the _____ Effect Dominates the _____ Effect,and

question 214

Multiple Choice

If demand is elastic,the _____ effect dominates the _____ effect,and a(n) _____ in price will cause total revenue to rise.

• A)price;quantity;decrease
• B)price;quantity;increase
• C)quantity;price;increase.
• D)quantity;price;decrease

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Definitions:

Response Time

The duration between when a customer request is made and when it is fulfilled, which is critical for customer satisfaction.

Vanquished Competitor

A competitor that has been thoroughly defeated or overcome, often no longer able to compete in the market.

Netflix

A streaming platform offering a wide variety of TV shows, movies, anime, documentaries, and more on thousands of internet-connected devices.

Property Costs

Expenses associated with owning or renting physical spaces, including warehouses, offices, or retail outlets, such as leases, taxes, maintenance, and utilities.