Examlex
If price were increased from $38 to $39 and quantity demanded fell from 18 to 13,calculate elasticity;state whether demand is elastic,unit elastic,or inelastic;and find how much total revenue was when price was $38 and $39.
T Account
A visual representation used in accounting to show the effect of transactions on the balance of accounts, featuring a T-shaped format.
Debit Balance
A financial account balance where debits are greater than credits.
Credit Balance
Indicates the amounts credited on the right side of the balance sheet, usually representing liabilities, revenue, or equity.
T Account
A graphical representation of a ledger account, used in accounting to depict debits and credits for a specific account.
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