If Demand Is Unit Elastic and Price Is _________,Total Revenue

question 120

Multiple Choice

If demand is unit elastic and price is _________,total revenue will ________.

• A)raised;increase
• B)raised;decrease
• C)lowered;increase
• D)lowered;remain unchanged

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Definitions:

Hiring Halls

A place, especially in union contexts, where workers are matched with available jobs, usually on a daily or temporary basis.

Unionized

Pertaining to workers who are members of a union or organized labor group.

High Technology

Industries or products characterized by rapid technological innovation and high levels of research and development.

Realistic Job Preview

Informing applicants about all aspects of the job, including both its desirable and undesirable facets