When the Price Elasticity of Demand Is Elastic and Prices

question 29

Multiple Choice

When the price elasticity of demand is elastic and prices go up,_____.

• A)revenues stay the same
• B)revenues decline
• C)revenues increase
• D)profits increase

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Definitions:

Random Expressions

Spontaneous or unpredictable verbal or facial expressions not guided by logical or clear reasoning.

Good Performance

The achievement of set goals or criteria at a high or satisfactory level, often evaluated in academic, professional, or athletic contexts.

Narcissism

A personality trait characterized by an exaggerated sense of self-importance, a need for excessive attention and admiration, and a lack of empathy for others.

Social Media

Digital platforms that facilitate the creation, sharing, and exchange of information and ideas through virtual communities and networks.