When Demand Is Elastic,if We Were to Lower Price,total Revenue

question 210

Short Answer

When demand is elastic,if we were to lower price,total revenue would _________;when demand is inelastic,if we were to lower price,total revenue would _______.

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Definitions:

Vaccine-preventable Disease

Illnesses for which effective immunizations exist, allowing for their prevention through vaccination.

Synapse

The intersection or gap between the axon of one neuron and the dendrites of other neurons; the gap that neurotransmitters must cross.

Synaptogenesis

The process of formation of synapses between neurons in the nervous system, crucial for learning and memory.

Prefrontal

Pertaining to the prefrontal cortex of the brain, involved in complex behaviours including decision making and planning.