An Increase in Price Causes

question 33

Multiple Choice

An increase in price causes:

• A) a decrease in total revenue due to the price effect.
• B) an increase in total revenue due to the price effect.
• C) an increase in total revenue due to the quantity effect.
• D) an increase in quantity demanded.

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Definitions:

Individualism View

A perspective emphasizing personal independence and the importance of individual self-reliance and freedom.

Business Practice

Conventional or customary commercial procedures and operations.

Pushing the Law

refers to the act of attempting to extend or apply legal boundaries and rules to their limits, often for strategic or advocacy purposes.

Procedural Justice

The fairness of the processes that lead to outcomes or decisions, fostering a sense of justice based on transparency, consistency, and impartiality.