If an Increase in the Price of a Good Leads

question 79

Multiple Choice

If an increase in the price of a good leads to an increase in total revenue,the _____ curve is price _____.

• A)supply;inelastic
• B)demand;inelastic
• C)supply;elastic
• D)demand;elastic

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Definitions:

People Overpopulation

A situation in which there are too many people in a given geographic area; results in pollution, environmental degradation, and resource depletion. Compare with consumption overpopulation.

Developing Nations

Countries with a lower level of industrialization, a lower standard of living, and a lower Human Development Index compared to developed countries.

Interference Competition

A situation where one species directly inhibits another from accessing a resource.

Exploitation Competition

A form of competition where organisms indirectly interact with each other by consuming shared resources.