If Demand Is Perfectly Inelastic,a Decrease in Price Results in A(n)

question 53

Multiple Choice

If demand is perfectly inelastic,a decrease in price results in a(n)

• A)decrease in seller's total revenue
• B)increase in total seller's expenditure
• C)increase in expenditure on the good,but a decrease in revenue to the seller
• D)unfavorable shift in tastes and preferences
• E)increase in total revenue to the seller

Recognize the role of government entities in enforcing antitrust laws and their impact on market practices.

Identify exempt entities and activities from antitrust laws and the rationale behind such exemptions.

Understand the legal defenses available against allegations of antitrust violations.

Recognize the global application of U.S. antitrust laws and their impact on international businesses.

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