Total Revenue Will Rise If

question 73

Multiple Choice

Total revenue will rise if

• A)demand for a good is inelastic and its price rises.
• B)demand for a good is elastic and its price rises.
• C)demand for a good is inelastic and its price falls.
• D)None of these choices are true.

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Definitions:

1980s

A decade marked by significant political, technological, and cultural changes, influencing global economics, international relations, and the rise of personal computing and digital technologies.

1990s

The decade spanning from January 1, 1990, to December 31, 1999, marked by significant global events, technological advancements, and cultural shifts.

Productivity Growth Rates

The rate at which the efficiency of production of goods and services increases over time, leading to more output per unit of input.

Employment Growth

An increase in the number of people employed in an economy, indicating a growing workforce.