Which of the Following Will Lead to a Decrease in Total

question 19

Multiple Choice

Which of the following will lead to a decrease in total revenue?

• A) price goes up and demand is perfectly inelastic
• B) price goes up and demand is price inelastic
• C) price declines and demand is price elastic
• D) price increases and demand is price elastic

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Definitions:

Sensation

The process by which our sensory receptors and nervous system receive stimuli from the environment, forming the basis for perception.

Psychological Processes

Mental activities involved in cognition, emotion, and behavior, such as perception, memory, and decision-making.

Conscious Mind

The facet of the mind that is conscious of its own thoughts, emotions, and environment at a particular time.

Unconscious Mind

The unconscious mind consists of processes in the mind that occur automatically and are not available to introspection, including repressed feelings and thoughts.