When a Demand Curve Is INELASTIC

question 34

Multiple Choice

When a demand curve is INELASTIC:

• A) if price goes down, then total revenue stays the same.
• B) if price goes up, then total revenue stays the same.
• C) if price goes down, then total revenue goes down.
• D) if price goes up, then total revenue goes down.

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Definitions:

Free-Rein

A leadership style where employees are given a high degree of freedom and autonomy in their tasks and decision-making.

Directive

Instruction or an order given with authority, often requiring action or guiding decisions.

Delegate

To entrust a task or responsibility to another person while maintaining overall accountability.

Technical Expertise

Refers to the specific knowledge and skills required to excel in a particular field or job.