If a Business Decreased the Price of Its Product from $10

question 57

Multiple Choice

If a business decreased the price of its product from $10 to $9 when demand was price inelastic,then total revenues would:

• A) decrease.
• B) increase.
• C) remain unchanged.
• D) be perfectly inelastic.

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Definitions:

Mania

A mental state characterized by an excessively elevated mood, energy levels, and sometimes severe agitation or excitement.

Major Depression

A clinical condition characterized by persistent feelings of sadness, a lack of interest in activities, and various physical symptoms, affecting one's daily functioning.

Bipolar Disorder

A psychological disorder marked by severe fluctuations in mood, consisting of intense emotional peaks (mania or hypomania) and troughs (depression).

Inactive

A state of not engaging in physical activity or movement, often leading to reduced energy expenditure and potential health risks.