If the Price of a Product Increases

question 57

Multiple Choice

If the price of a product increases:

• A)the consumer surplus will decrease.
• B)the consumer surplus will increase.
• C)total revenue will increase if demand is price elastic.
• D)total revenue will decrease if demand is price inelastic.

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Definitions:

Dopamine

A neurotransmitter involved in many functions, including mood, motivation, reward, and motor control.

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