When Quantity Demanded Increases,total Revenue

question 48

Multiple Choice

When quantity demanded increases,total revenue

• A) increases.
• B) decreases.
• C) increases, if demand is elastic.
• D) increases, if demand is inelastic.
• E) increases, depending on whether price increases as well.

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Definitions:

Average Rate

An indicative value representing the mean of several different rates or prices, commonly used in finance.

Exchange Rates

The value of one currency for the purpose of conversion to another.

Inventory Purchase

The acquisition of goods and materials a company intends to sell or use in the production process.

Amount Record

The documentation of the monetary value of transactions or balances.