If the Seller of Good X Raises the Price of Good

question 100

Multiple Choice

If the seller of good X raises the price of good X, it follows that the total revenue of good X will __________, if demand is __________.

• A)rise; unit elastic
• B)rise; elastic.
• C)fall; unit elastic.
• D)fall; inelastic.
• E)fall; elastic

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Definitions:

Gini Ratio

is a measure of income inequality within a population, ranging from 0 to 1, where 0 signifies perfect equality and 1 reflects absolute inequality.

Gini Ratio

A measure of income or wealth distribution within a population, indicating inequality where a higher ratio suggests greater disparity.

Population B

This term on its own lacks context; typically, it would refer to a specific group or subset within a larger population in a study or model.