Figure 5-7 -Refer to Figure 5-7.For Prices Above $8,demand Is Price

question 347

Multiple Choice

Figure 5-7

-Refer to Figure 5-7.For prices above $8,demand is price

• A) elastic, and total revenue will rise as price rises.
• B) inelastic, and total revenue will rise as price rises.
• C) elastic, and total revenue will fall as price rises.
• D) inelastic, and total revenue will fall as price rises.

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