Figure 5-2 -Refer to Figure 5-2.If the Price Decreased from $18 to Decreased

question 94

Multiple Choice

Figure 5-2

-Refer to Figure 5-2.If the price decreased from $18 to $6,

• A)total revenue would increase by $1,200 and demand is elastic between points A and C.
• B)total revenue would increase by $800 and demand is elastic between points A and C.
• C)total revenue would decrease by $1,200 and demand is inelastic between points A and C.
• D)total revenue would decrease by $800 and demand is inelastic between points A and C.

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Definitions:

Marginal Gloss

Brief explanations or comments that are written in the margins of a text, often used to provide additional information or context.

Ethical Challenges

Situations that pose moral questions or dilemmas, often requiring individuals or organizations to evaluate actions in terms of right and wrong.

Exporting Goods

The process of sending goods or products from one country to another for the purpose of sale or trade.

Whistle-Blowing

The act of exposing wrongdoing or unethical practices within an organization by an insider or employee.