If a Price Decrease Leads to an Increase in Total

question 175

Multiple Choice

If a price decrease leads to an increase in total revenue, demand must be:

• A)​perfectly inelastic.
• B)​relatively inelastic.
• C)​relatively elastic.
• D)​unit elastic.

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Definitions:

Positive Consequences

Beneficial or favorable outcomes that result from a specific action or set of actions.

Openness to Experience

A personality trait characterized by an appreciation for art, emotion, adventure, unusual ideas, imagination, curiosity, and variety of experience.

Conscientiousness

A personality trait characterized by diligence, carefulness, and a high level of organization and responsibility.

Emotional Stability

A personality trait signifying the consistency of an individual's mood and temperament; opposite of high neuroticism.