An Increase in Total Revenue Will Result If

question 395

Multiple Choice

An increase in total revenue will result if

• A) demand is inelastic and price increases.
• B) demand is elastic and price increases.
• C) demand is inelastic and price decreases.
• D) demand is unitary elastic and price decreases.

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Definitions:

Causes

The reasons or motivations behind an event or action that lead to specific outcomes.

Consequences

The outcomes or effects that result from a particular action or set of conditions, often discussed in the context of decision-making and behavior.

Triangular Trade

A historical term that describes a system of trading in which a country pays for its imports from one country by its exports to another, often involving the exchange of slaves, goods, and raw materials between the Americas, Europe, and Africa.

Economic Impact

The effect of an event, policy, or business activity on the economy of a region or country, including factors like job creation, GDP growth, or market fluctuations.