A Price Change Will Have No Effect on Total Revenue

question 117

Multiple Choice

A price change will have no effect on total revenue if demand is

• A)Elastic.
• B)Unitary elastic.
• C)Inelastic.
• D)Perfectly elastic.

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Definitions:

Anonymity

The state of being unnamed or unacknowledged, often used to describe situations where individuals' identities are protected or not revealed.

Deindividuation Theory

A psychological theory suggesting individuals in groups may lose self-awareness and feel less responsible for their actions, often leading to norms being disregarded.

Irrationality

The quality of acting or deciding based on emotions, flawed reasoning, or nonsensical ideas, rather than logic or rational thought.

Group Behavior

pertains to the ways in which individuals act, interact, and influence each other within a group setting.