When Demand Is Elastic,an Increase in Price Will Cause

question 193

Multiple Choice

When demand is elastic,an increase in price will cause

• A)an increase in total revenue.
• B)a decrease in total revenue.
• C)no change in total revenue but an increase in quantity demanded.
• D)no change in total revenue but a decrease in quantity demanded.

---

Definitions:

Tangible Rewards

Physical items or rewards given to individuals, often children or employees, as a way to acknowledge and reinforce positive behaviors or achievements.

Enjoyment

The state of taking pleasure or experiencing satisfaction from a certain activity, situation, or aspect of life.

Fulfillment

A feeling of satisfaction or happiness as a result of fully developing one's abilities or character.

Job Satisfaction

The level of contentment individuals feel about their work, which can involve factors like work environment, salary, and personal fulfillment from their job role.