If,when the Price Falls,total Revenue Increases,demand Is

question 103

Multiple Choice

If,when the price falls,total revenue increases,demand is

• A) elastic.
• B) inelastic.
• C) unit elastic.
• D) perfectly inelastic.
• E) None of the above answers is correct because total revenue always decreases when the price of the good falls.

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Definitions:

Actuarial Assumptions

The hypotheses about demographic, financial, and other variables that actuaries use to calculate the liabilities and expenses of insurance and pension plans.

GAAP Standards

Generally Accepted Accounting Principles; a set of rules and standards used for financial reporting and accounting in the United States.

Pension Asset

Refers to the resources set aside by a company in a pension fund to meet future pension liabilities to its employees.

Projected Benefit Obligation

A measurement of the present value of future pension benefits earned to date as estimated by actuaries, used in accounting for pension plans.