A Price Change Will Have No Effect on Total Revenue

question 89

Multiple Choice

A price change will have no effect on total revenue if demand is

• A) Elastic.
• B) Unitary.
• C) Inelastic.
• D) Perfectly elastic.

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Definitions:

Entrepreneurs

Individuals who innovate, create, manage, and lead a business venture, taking on financial risks in the hope of profit.

Run Out of Money

A situation where an individual or organization depletes their financial resources completely, rendering them unable to meet their financial obligations.

Chance of Success

The probability or likelihood that a specific action, endeavor, or strategy will lead to a desirable outcome or achieve specific goals.

Entrepreneurial Venture

A new business or startup that is initiated by an entrepreneur with the aim of seeking innovation, growth, and profit.