If a Monopolist Lowers Its Price and Its Demand Is

question 457

Multiple Choice

If a monopolist lowers its price and its demand is inelastic, then its

• A) total revenue increases.
• B) total revenue decreases.
• C) total revenue does not change.
• D) total revenue is negative.

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Definitions:

Brachiocephalic Vein

A large vein in the upper chest that forms from the union of the internal jugular and subclavian veins and carries blood to the heart.

Internal Jugular

A major vein located in the neck, it collects blood from the brain, the superficial parts of the face, and the neck, and conveys it toward the heart.

Subclavian Veins

Large veins on either side of the body that receive blood from the arm and chest wall, transporting it back to the heart.

Embolism

Obstruction or occlusion of a vessel by a transported clot, a mass of bacteria, or other foreign material.