If a Price Decrease Results in an Increase in Total

question 121

Multiple Choice

If a price decrease results in an increase in total revenue, then demand is

• A)inelastic.
• B)unit elastic.
• C)perfectly inelastic.
• D)equal to supply.
• E)elastic.

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Definitions:

Low Self-Monitoring

A trait characterized by a consistent behavior across different situations due to a disregard for social cues or expectations.

Primacy Effect

The tendency to remember and give more importance to information that is encountered first in a list or series, as opposed to information that appears later.

Promotion Focus

A motivational state where an individual is primarily oriented towards achieving positive outcomes and realizing ambitions.

Approach of Positive

A methodology or mindset that emphasizes focusing on positive aspects, strengths, and constructive outcomes in various situations.