An Increase in Total Revenue Results Occurs from Which of the Following

question 53

Multiple Choice

An increase in total revenue results occurs from which of the following?

• A) Price decreases when demand is inelastic.
• B) Price increases when demand is elastic.
• C) Price decreases when demand is elastic.
• D) Price increases when demand is unitary elastic.

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Definitions:

Socioeconomic Class

A division of a society based on social and economic status, often categorizing people by income, education, and occupation.

Parents

Caregivers of offspring in their own species; in humans, this usually refers to the father and mother of a child.

Digital Divide

The gap between individuals who have access to modern information and communication technology and those who do not, affecting opportunities in education, employment, and social engagement.

Social Inequality

The unequal distribution of resources, opportunities, and privileges among individuals or groups within a society.