Total Revenue Will Decrease If Price

question 88

Multiple Choice

Total revenue will decrease if price

• A) increases and demand is inelastic.
• B) increases and demand is elastic.
• C) decreases and demand is elastic.
• D) decreases and demand is unit elastic.

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Definitions:

Oversight

Supervisory or regulatory actions taken by authorities to ensure compliance with laws, rules, and regulations, often within public institutions.

Largest Employer

Refers to the organization or entity that employs the highest number of people within a specific geographic area, sector, or industry.

U.S. Federal Government

The U.S. Federal Government is the national government of the United States, composed of three distinct branches (legislative, executive, and judicial) established to provide national leadership and implement various laws and policies.

Goods and Services

The outputs offered by businesses or the economy at large, including tangible products (goods) and intangible offerings (services).