If the Demand for Widgets Is Inelastic, Revenues Will ______

question 7

Multiple Choice

If the demand for widgets is inelastic, revenues will ______ if the price of widgets increases.

• A)increase
• B)fall
• C)remain the same
• D)one cannot tell what will happen to revenues without specific elasticity numbers

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Definitions:

Motivational Counseling

A method focused on the client that aims to increase internal motivation for change by addressing and overcoming mixed feelings.

Level 1

Often represents the introductory or basic stage in a structured hierarchy or classification system.

Physical Activity

Activities that involve substantial body movements, contributing to improved physical health, which can include exercises like walking, swimming, or cycling.

Exercise Is Medicine

A global health initiative that recognizes physical activity as a fundamental strategy for preventing and treating diseases and promoting health.