Figure 5-5 -Refer to Figure 5-5.When Price Falls from $50 to $40,it

question 226

Multiple Choice

Figure 5-5

-Refer to Figure 5-5.When price falls from $50 to $40,it can be inferred that demand between those two prices is

• A)inelastic, since total revenue decreases from $8,000 to $5,000.
• B)inelastic, since total revenue increases from $5,000 to $8,000.
• C)elastic, since total revenue increases from $5,000 to $8,000.
• D)unit elastic, since total revenue increases from $5,000 to $8,000.

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Definitions:

Loanable Funds

The market where savers supply funds to borrowers, typically through financial intermediaries, affecting interest rates and economic activity.

National Saving

The total amount of savings in a country, equal to the sum of private and public savings.

Domestic Investment

The total amount of investment in physical assets like buildings, machinery, and technology, within a country’s borders.

National Saving

The total savings of a nation, calculated as the sum of private and public saving, representing the part of national income not consumed or spent by the government.