If a Decrease in Price Leads to a Decrease in Total

question 196

Multiple Choice

If a decrease 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.

---

Definitions:

Outcome Yields

The results obtained from a particular action or set of circumstances, typically measured in terms of benefits, profits, or yields.

Investment Opportunity

A specific financial asset, product, or project that an individual, organization, or entity invests in with the expectation of generating a favorable future return.

Central Tendency

Statistical measures that describe the center or typical value of a dataset, including mean, median, and mode.

Expected Value

The weighted average of all possible outcomes of a random variable, with weights being their respective probabilities of occurrence.