If Elasticity of Demand Is 4 and Price Is Raised

question 89

Multiple Choice

If elasticity of demand is 4 and price is raised,

• A)total revenue will fall.
• B)total revenue will rise.
• C)total revenue will remain constant.
• D)there is no way to determine whether total revenue will rise,fall,or remain constant.

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Definitions:

Timing Bit

A specific bit in a digital system used to provide a timing signal or to time operations.

Error Signal

An error signal is a measurement in control systems that represents the difference between a desired setpoint and the actual output of the system, used to correct or adjust the system's performance.

Outputs

Refers to the signals or data sent from a system to actuate or inform another system or component.