Holding All Other Forces Constant,if Increasing the Price of a Good

question 168

Multiple Choice

Holding all other forces constant,if increasing the price of a good leads to an increase in total revenue,then the demand for the good must be

• A)unit elastic.
• B)inelastic.
• C)elastic.
• D)None of the above is correct because a price increase always leads to an increase in total revenue.

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Definitions:

Georgia

A state located in the southeastern region of the United States, known for its diverse geography from beaches to mountains and its significant history dating back to the colonial era.

Fugitive Carolina Slaves

Escaped slaves from the Carolina regions who sought freedom from their oppressors, often heading towards regions where slavery was abolished or less enforced.

16th Century

A period from 1501 to 1600 marked by significant events such as the Renaissance, the Age of Exploration, and the Protestant Reformation in Europe.

Stono Rebellion

A significant slave uprising that occurred in 1739 in South Carolina, representing one of the earliest and most violent acts of resistance against slavery in the American colonies.