If a Change in the Price of a Good Results

question 43

Multiple Choice

If a change in the price of a good results in no change in total revenue,then

• A)the demand for the good must be elastic.
• B)the demand for the good must be inelastic.
• C)the demand for the good must be unit elastic.
• D)buyers must not respond very much to a change in price.

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Definitions:

Amazon

Amazon is a multinational technology company focusing on e-commerce, cloud computing, digital streaming, and artificial intelligence.

Horizontal Exchanges

refer to marketplaces or platforms that facilitate the trading, sharing, or selling of goods, services, or information between entities within the same industry or sector.

Many Industries

This refers to the broad range of sectors and fields within the economy, encompassing various types of businesses and production methods.

Vertical Exchanges

Online marketplaces connecting buyers and sellers within specific industries or sectors, facilitating more specialized transactions than traditional horizontal marketplaces.