What Happens to Total Revenue When Demand Is Unit Elastic

question 115

Multiple Choice

What happens to total revenue when demand is unit elastic and the price changes?

• A) Revenues increase when the price increases.
• B) Revenues remain unchanged.
• C) Revenues decrease when the price increases.
• D) The change in revenues cannot be estimated.

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Definitions:

Servant Leader

A leadership philosophy where the main goal of the leader is to serve others, prioritizing the needs of the team or organization over their own.

Career Advancement

The process of making progress in one's job or profession, often involving gaining additionalskills, responsibilities, and higher positions.

Servant Approach

A leadership philosophy centered on serving others first, focusing on the growth and well-being of team members and the communities to which they belong.

Authoritarianism

A leadership style characterized by strong, central control and limited personal freedoms.