A Decrease in Demand Will Increase Total Revenue

question 4

Multiple Choice

A decrease in demand will increase total revenue:

• A)​Always.
• B)​Only if supply is relatively inelastic.
• C)​Only if supply is relatively elastic.
• D)​Never.

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Definitions:

Premolars

In mammals, teeth positioned between the canines and molars; adapted for crushing and grinding; compare with incisors, canines, and molars.

Incisors

Chisel-shaped teeth of a mammal; adapted for biting and cutting food. Compare with canines, premolars, and molars.

Digestive Tract

The series of hollow organs joined in a long, twisting tube from the mouth to the anus, where digestion and absorption of food occurs.

Rugae

Folds, such as those in the lining of the stomach.