If Price Rises and Total Revenue Falls,then

question 176

Multiple Choice

If price rises and total revenue falls,then

• A) cross elasticity of demand is negative.
• B) price elasticity of demand is less than 1.
• C) income elasticity of demand is positive.
• D) b and c
• E) none of the above

Identify and utilize bias-free language.

Recognize and apply effective business writing styles, including tone and voice.

Understand and avoid types of bias in business communication.

Utilize euphemisms appropriately and understand their effects.

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Definitions:

Journal Entry

A record in accounting that logs a transaction and shows the affected accounts in the form of debits and credits.

Debits

Accounting entries that increase assets or expenses and decrease liabilities, equity, or revenue, recorded on the left side of accounting ledgers.

Credits

Accounting entries that increase liabilities or decrease assets, or record income in double-entry bookkeeping.