A Price Increase Will Cause an Increase in Total Revenue

question 133

Multiple Choice

A price increase will cause an increase in total revenue when:

• A) the price effect outweighs the quantity effect.
• B) the quantity effect outweighs the price effect.
• C) demand is perfectly elastic.
• D) demand is unit elastic.

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Definitions:

Hayflick Limit

The maximum number of times a normal human cell population can divide until division stops, attributed to cellular aging.

Genetic Clock

A mechanism within organisms that regulates timing of biological functions and aging, often influenced by genetic and environmental factors.

Genetic

Relating to genes or heredity, often used to describe traits or conditions that are passed from parents to offspring through DNA.

Secondary Aging

The aging process that results from disease, lifestyle, and environmental factors, rather than genetic disposition.