Regarding Demand Elasticity, Which of the Following Statements Is Correct

question 163

Multiple Choice

Regarding demand elasticity, which of the following statements is correct?

• A)If demand for seller's product is elastic, a price increase will decrease total revenue.
• B)If demand for seller's product is elastic, a price increase will increase total revenue.
• C)If demand is exactly unit elastic, an increase in price will raise total revenue
• D)If demand is exactly unit elastic, an increase in price will raise total revenue.

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Definitions:

Machine Cycle

A sequence of operations performed by a computer's CPU to execute a single instruction.

Processing Instructions

Directives or commands within software or programming that guide the handling and manipulation of data.

CPU Converts

The process by which the central processing unit (CPU) of a computer converts instructions (data) into actions or results.

Operating System

Fundamental software that manages hardware resources and provides common services for computer programs.