If Total Revenue Falls as a Result of a Decrease

question 165

Multiple Choice

If total revenue falls as a result of a decrease in the price of a given good, it follows that demand is

• A)perfectly elastic.
• B)inelastic.
• C)unit elastic.
• D)elastic.

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Definitions:

Parasite

A living entity that resides within or on a host organism, deriving its nourishment to the detriment of the host.

Lichen

Symbiotic organisms composed of a fungus and a photosynthetic partner (usually an alga or cyanobacterium) that live together and function as a single ecological unit.

Benefit From Each Other

A situation or relationship in which all parties involved gain advantages or positives from their association or interaction.

Plant Parasites

Organisms that derive nutrients at the expense of plants, often causing harm to their plant hosts.