When Demand Is Elastic,a Decrease in Price Will Cause

question 103

Multiple Choice

When demand is elastic,a decrease 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.

---

Definitions:

Marketing Research Reports

Documents that present the findings of specific marketing research, including data analysis, conclusions, and recommendations for marketing strategies.

Marketing Program

A strategic plan that combines the marketing mix (product, price, place, and promotion) to achieve specific business goals and satisfy consumers' needs.

Marketing Plans

Strategic outlines businesses use to coordinate their market research, pricing, promotions, distribution, and product development to achieve specific goals.

Marketing Goals

Targets a business intends to achieve through its marketing efforts, such as expanding market share or enhancing customer engagement.