If Demand Is Elastic, Then Total Revenue Would Decrease If

question 60

True/False

If demand is elastic, then total revenue would decrease if price were raised.

---

Definitions:

Service Brake Chambers

Components in air brake systems that convert air pressure into mechanical force to apply the brakes.

Hold-Off Circuit

The air brake circuit used to charge air to the spring brake chambers to compress the park spring. The hold-off circuit must be charged with air before a vehicle with spring brakes can move.

Service Brake Priority

A trailer air brake circuit in which air is routed first to the trailer reservoirs when the trailer supply valve (on the tractor) is activated. This means that air pressure must exceed 60 psi in the reservoirs before the hold-off circuit will charge and release the parking brakes.

Reservoirs

Structures or natural formations used for storing water or other fluids.