When Demand Is Inelastic,an Increase in Price Will Cause

question 142

Multiple Choice

When demand is inelastic,an increase in price will cause

• A)an increase in total revenue.
• B)a decrease in total revenue.
• C)no change in total revenue but an increase in quantity demanded.
• D)no change in total revenue but a decrease in quantity demanded.

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Definitions:

Transference

A psychological phenomenon in which an individual redirects emotions and feelings from one person to another, often occurring in therapeutic settings.

Resembles

To be like or similar to something or someone in appearance, qualities, or characteristics.

Already Like

A concept reflecting a pre-existing positive attitude towards an object, idea, or person that may influence future perceptions and behaviors.

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The temperature in an enclosed space that is considered comfortable for humans, typically around 20-22 degrees Celsius (68-72 degrees Fahrenheit).