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If the Price of Good X Falls and the Demand

question 145

Multiple Choice

If the price of good X falls and the demand for good X is unit elastic, then the percentage rise in quantity demanded is __________ the percentage fall in price, and total revenue __________.


Definitions:

Losing Consciousness

The state of passing out or fainting, resulting in a temporary loss of awareness and responsiveness.

Flashing Lights

Visual sensations where a person sees flashing or flickering lights, which can be a symptom of various eye conditions.

Varicella

A highly contagious viral infection, also known as chickenpox, characterized by a rash of itchy, blister-like lesions.

Measles

A highly contagious viral disease characterized by fever, cough, conjunctivitis, and a distinctive red rash.

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