If a Monopolist Lowers Its Price and Its Demand Is

question 457

Multiple Choice

If a monopolist lowers its price and its demand is inelastic, then its

• A) total revenue increases.
• B) total revenue decreases.
• C) total revenue does not change.
• D) total revenue is negative.

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Definitions:

Deposit Slip

A document provided by a bank for a depositor to fill out, detailing the amount of cash or checks to be added to a particular account.

Cryptocurrency

Digital or virtual currency that uses cryptography for security, operating independently of a central bank.

Cryptography

The practice and study of techniques for secure communication in the presence of third parties by converting information into a code to prevent unauthorized access.

Money Order

A money order is a payment order for a pre-specified amount of money, serving as a method of transferring or sending money safely where the use of checks or cash is not possible or advised.