If a Firm Lowers the Price of a Product When

question 159

Multiple Choice

If a firm lowers the price of a product when demand is elastic, then the firm should expect total revenue to

• A)fall.
• B)rise.
• C)remain the same.
• D)become zero.
• E)rise and then fall.

---

Definitions:

Modified Leaves

Leaves that have undergone changes to serve functions other than photosynthesis, such as tendrils or spines.

Store Water

The process or capability of retaining water in bodily tissues, cells, or reservoirs in organisms or systems.

Modified Leaves

Specialized structures that arise from the leaf base and perform functions other than photosynthesis, such as protection, reproduction, or storage.

Tendrils

Slender, twining stems or leaf appendages used by climbing plants for support.