When Price Decreases and Total Revenue Falls,demand Is Which of the Following

question 158

Multiple Choice

When price decreases and total revenue falls,demand is which of the following?

• A) absolute
• B) stable
• C) elastic
• D) inelastic

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Definitions:

Tax Incidence

The degree to which a tax falls on a particular person or group.

Business Property

Assets owned by a business, including both real estate and personal property used for business operations.

Federal Government Expenditures

The total amount of money spent by the federal government of a country, covering all its operations, programs, and services.

National Defense

Activities and measures undertaken by a government to protect its country from external threats or military aggression.