If the Total Revenue Received by Sellers of DVDs Increases

question 40

Multiple Choice

If the total revenue received by sellers of DVDs increases by 20 per cent when price increases by 10 per cent, then demand for DVDs is

• A) inelastic.
• B) elastic.
• C) unit elastic.
• D) perfectly elastic.

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Definitions:

Standard Deviation

A statistical measure that quantifies the variation or dispersion of a set of data points.

Population

A group of individuals, items, or data from which a statistical sample can be drawn for analysis.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, used in statistics to quantify the degree to which individual data points differ from the mean value.

Small Stocks

Small stocks refer to shares of companies with a relatively small market capitalization, often considered to have high growth potential but also higher risk.