If an Increase in the Price of a Good Leads

question 248

Multiple Choice

If an increase in the price of a good leads to an increase in total revenue, then:

• A)the supply curve is price inelastic.
• B)the demand curve is price inelastic.
• C)the supply curve is price elastic.
• D)the demand curve is price elastic.

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Definitions:

Endocrine System

A collection of glands that secrete hormones into the bloodstream, affecting various aspects of bodily function from growth to metabolism.

Thalamic System

A network within the brain that acts as a relay station, processing and transmitting sensory information to the cerebral cortex.

Medulla

An area in the brainstem responsible for controlling autonomic functions such as breathing, heart rate, and blood pressure.

Breathe

The process of inhaling and exhaling air to facilitate gas exchange within the lungs.