If a 10 Percent Cut in Price Causes a 15

question 90

Multiple Choice

If a 10 percent cut in price causes a 15 percent increase in sales, then:

• A) total revenue will decrease.
• B) demand is price inelastic in this range.
• C) demand is price elastic in this range.
• D) demand is unit elastic in this range.
• E) total revenue will remain the same.

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Definitions:

Plaintiff

The party who initiates a lawsuit in a court of law against another party, known as the defendant, seeking a legal remedy.

Court Clerk

A court official responsible for maintaining the records of a court and managing procedural aspects of court cases.

Case Number

A unique numerical or alphanumeric identifier assigned to a specific legal case.

Judge

A public official authorized to decide legal matters in court.