Examlex

Solved

A Decrease in Price Will Cause a Firm's Total Revenue

question 223

True/False

A decrease in price will cause a firm's total revenue to decrease if demand is price inelastic.


Definitions:

Methyl Benzoate

An organic compound formed from the esterification of benzoic acid with methanol, characterized by a sweet smell and used in perfumery.

Aldehyde Treatment

A chemical process involving the reaction of an aldehyde group, often resulting in the introduction of new functional groups.

LiAlH4

Lithium aluminium hydride, a powerful reducing agent widely employed in organic chemistry for reducing carbonyl compounds to alcohols.

Primary Alcohol

An alcohol with the hydroxyl group (-OH) attached to a carbon atom that is connected to only one other carbon atom.

Related Questions