Figure 6-7 -Refer to Figure 6-7.Using the Total Revenue Test to Verify

question 95

Multiple Choice

Figure 6-7

-Refer to Figure 6-7.Using the total revenue test to verify the price elasticity between points a and b on the demand curve, demand is

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

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Definitions:

Mass Customization

A production and marketing technique that combines the flexibility and personalization of custom-made products with the low unit costs of mass production.