If the Total Revenue Received by Sellers of DVDs Increases

question 370

Multiple Choice

If the total revenue received by sellers of DVDs increases by 20 percent when price increases by 10 percent, then demand for DVDs is

• A) perfectly elastic.
• B) unitary elastic.
• C) inelastic.
• D) elastic.

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Definitions:

Deductive Reasoning

A logical process where a conclusion is based on the concordance of multiple premises that are generally assumed to be true.

Specific Observations

are detailed and focused observations that are made to gather information about a particular, narrowly defined subject or phenomenon.

DNA Molecule

The molecule carrying genetic instructions for the development, functioning, growth, and reproduction of all known living organisms and many viruses.

Nucleotides

The basic building blocks of nucleic acids (DNA and RNA), composed of a sugar, a phosphate group, and a nitrogenous base.