If an Increase in Price Leads to a Decrease in Total

question 66

Multiple Choice

If an increase in price leads to a decrease in total revenue,

• A)demand is elastic.
• B)demand is inelastic.
• C)demand is unit elastic.
• D)there is not enough information to determine the elasticity of demand.

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Definitions:

Caution

A warning or advice to prevent risk or danger.

Sigmoidoscopy

A medical examination of the lower part of the large intestine using a flexible tube called a sigmoidoscope.

Large Intestine

The last part of the digestive system, responsible for water absorption and formation of feces.

Occult

Pertains to knowledge of the hidden or mysterious, often associated with supernatural practices or phenomena that are beyond the scope of normal scientific understanding.