An Increase in Price Will Result in No Change in Total

question 39

Multiple Choice

An increase in price will result in no change in total revenue if:

• A)the percentage change in price is large enough to cause quantity demanded to fall to zero.
• B)the coefficient of elasticity is equal to zero.
• C)the percentage change in quantity demanded is equal to the percentage change in price (in absolute values).
• D)the demand function is perfectly elastic.

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Definitions:

Medium of Exchange

An instrument used to facilitate the sale, purchase, or trade of goods between parties, commonly accepted in the form of currency.