If Demand Is Elastic and Price Is Raised,total Revenue Will

question 39

Multiple Choice

If demand is elastic and price is raised,total revenue will

• A)rise.
• B)fall.
• C)stay the same.
• D)possibly rise or possibly fall.

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Definitions:

Physiological Need

A basic bodily requirement.

Basic Requirement

Fundamental needs or conditions that must be met to achieve a goal or maintain a standard.

Drive-Reduction Theory

the idea that a physiological need creates an aroused state (a drive) that motivates an organismto satisfy the need

Physiological State

The condition of normal function of a living organism’s body, including its physical and chemical processes.