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

question 57

Multiple Choice

Holding all other forces constant,if decreasing the price of a good leads to a decrease 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,since a price increase always leads to an increase in total revenue.

---

Definitions:

Specified

Specified refers to being explicitly stated, defined, or detailed.

Sample Linear Regression Model

A statistical model that estimates the relationship between a dependent variable and one or more independent variables using a linear equation.

Slope Coefficient

In linear regression, a measure of the rate of change in the dependent variable for every one unit change in an independent variable.

Average Change

The mean difference between successive measurements in a series of data points, indicative of a trend or variation over time.