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If the Short Run Elasticity of Demand for Widgets Is

question 188

Multiple Choice

If the short run elasticity of demand for widgets is 1.1 and the long run elasticity of demand for widgets is 3.6, a decrease in price will ____ total revenue in the short run and ____ total revenue in the long run.


Definitions:

Growth Need Strength

The degree to which an individual desires and is motivated by opportunities for personal growth and development within their job or career.

Job Context

The work environment and all the conditions, including tasks and responsibilities, that influence one's job.

Motivating Potential Score

A numeric index used to predict job satisfaction and motivation potential, based on the design of a job and five core job characteristics.

Growth Need Strength

The degree to which an individual requires personal growth and development within their job.

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