If Demand Is Unit Elastic, Revenue

question 161

Multiple Choice

If demand is unit elastic, revenue

• A)and price rise and fall together.
• B)rises as price falls.
• C)falls as price rises.
• D)remains constant as price rises or falls.

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Definitions:

GPA

Grade Point Average, a numerical measure of a student's academic performance, calculated by dividing the total amount of grade points received by the total amount of credit hours attempted.

Gender

A social construct that refers to roles, behaviors, activities, and attributes that a given society considers appropriate for men and women.

Nominal Variables

Categorical data that classify data into distinct categories that do not have an inherent order or ranking.

Cross-Classification Table

A cross-classification table displays the frequency distribution of variables in a table format, facilitating the analysis of the relationship between two or more categorical variables.