If a Firm Lowered the Price of the Product It

question 236

Multiple Choice

If a firm lowered the price of the product it sells and found that total revenue did not change, then the demand for its product is

• A)perfectly inelastic.
• B)perfectly elastic.
• C)unit elastic.
• D)relatively elastic.

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Definitions:

Wound Culture

A diagnostic test involving the collection and cultivation of tissue, fluid, or discharge from a wound to identify the presence of pathogens.

Resistant to Antibiotics

The ability of bacteria or other microbes to withstand the effects of an antibiotic to which they were once sensitive.

Bacterial Spores

Dormant, highly resistant forms of bacteria that can survive in harsh conditions and can germinate into active bacteria under favorable conditions.

Alcohol-Based Solutions

Liquids containing a significant concentration of alcohol used for disinfection and cleaning, particularly effective in killing bacteria and viruses on surfaces and skin.