If Demand Is Unit Elastic and Price Is _________,Total Revenue

question 120

Multiple Choice

If demand is unit elastic and price is _________,total revenue will ________.

• A)raised;increase
• B)raised;decrease
• C)lowered;increase
• D)lowered;remain unchanged

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Definitions:

Psychological Time

An individual's subjective experience of time, which may differ significantly from actual clock time, influenced by various psychological states.

Hedonic Shopping

Shopping activities driven by pleasure seeking and emotional gratification rather than practical or functional needs.

Interpersonal Attraction

A psychological phenomenon involving a positive emotional response or interest towards another individual, which can lead to friendships or romantic relationships.

Shopping Type

Shopping type refers to the categorization of shopping behaviors or modes, such as convenience shopping, bargain hunting, or online shopping, based on shoppers' preferences and habits.