An Increase in Price Causes an Increase in Total Revenue

question 223

Multiple Choice

An increase in price causes an increase in total revenue when demand is

• A)elastic.
• B)inelastic.
• C)unit elastic.
• D)All of the above are possible.

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Definitions:

Class Rating

A classification that denotes the strength, capacity, or quality of equipment, materials, or vehicles according to a standard scale.

Truck Class

A categorization system used to classify trucks based on their maximum load capacity and gross vehicle weight rating (GVWR).

Air Brake Systems

A type of braking system used primarily in large, heavy vehicles, which uses compressed air to operate the brake mechanism.

ASE Certification

The certification body for automotive professionals across the United States. Certification tests are conducted online and in test centers.