The Demand for a Good Is Price Elastic If

question 11

Multiple Choice

The demand for a good is price elastic if

• A)a rise in price results in an increase in total revenue.
• B)a fall in price results in a decrease in total revenue.
• C)a rise in price results in a decrease in total revenue.
• D)the good is a necessity.
• E)the demand for the good is very insensitive to changes in price.

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