If a 20 Percent Decrease in the Price of a Good

question 50

Multiple Choice

If a 20 percent decrease in the price of a good leads to a 15 percent increase in the quantity demanded, then demand is ________ and total revenue will ________ as a result of the fall in price.

• A) elastic; increase
• B) elastic; decrease
• C) inelastic; increase
• D) inelastic; decrease

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Definitions:

Oral Intercourse

Sexual activity involving the stimulation of the genitalia of a partner using the mouth, lips, and tongue.

Antiretroviral Therapy

A treatment for HIV/AIDS using medications that inhibit the virus's replication, helping to manage the infection and improve the patient's quality of life.

HIV

See human immunodeficiency virus.

Phototherapy

A treatment using light to reduce symptoms of certain medical conditions, including skin disorders and neonatal jaundice.