If Demand Is Price Inelastic,then When Price Rises,total Revenue

question 109

Multiple Choice

If demand is price inelastic,then when price rises,total revenue

• A)will fall.
• B)will rise.
• C)will remain unchanged.
• D)may rise,fall,or remain unchanged.More information is need to determine the change in total revenue with certainty.

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Definitions:

Emotions

Complex psychological states that involve a physiological response and an expressive reaction to external or internal events.

Personality

The combination of emotions, thoughts, behaviors, and patterns that define an individual's character and influences their interactions with the environment.

Sociological Status

An individual's standing or position within society, which can be influenced by factors such as wealth, occupation, and education.

Psychosocial Development

A theory that describes the process of human development through a series of eight social stages from infancy to adulthood, emphasizing the social nature of our development.