If a Rise in Price Results in a Decrease in Total

question 28

Multiple Choice

If a rise in price results in a decrease in total revenue, then the price elasticity of demand is

• A)negative.
• B)zero.
• C)greater than zero but less than 1.
• D)equal to 1.
• E)greater than 1.

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Definitions:

Cohort Design

A research design that follows a group (cohort) of individuals over time to study changes and outcomes, often used in epidemiology and social sciences.

Broken Line

Describes a line in graphs or diagrams that is interrupted at intervals to signify discontinuity or different conditions.

Successive Cohorts

Groups of subjects sequentially assessed over time, often used in longitudinal studies to observe changes within a population.

Quasi-Experimental Design

A research design that resembles an experimental design but lacks random assignment of subjects to treatment and control groups.