A Decrease in Price Will Result in an Increase in Total

question 23

Multiple Choice

A decrease in price will result in an increase in total revenue if:

• A)the percentage change in quantity demanded is less than the percentage change in price.
• B)the percentage change in quantity demanded is greater than the percentage change in price.
• C)demand is inelastic.
• D)the consumer is operating along a linear demand curve at a point at which the price is very low and the quantity demanded is very high.

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Definitions:

Subsist

To maintain or support oneself, especially at a minimal level.

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Term often used to describe single mothers who receive government assistance, typically through cash aid, to help support their families.

Welfare Checks

Government payments or assistance provided to individuals or families in need, aimed at ensuring a basic standard of living.

Social Constraint

Limitations imposed by society that influence individual behavior and social interactions.