When Demand Elasticity Is ____ in Absolute Value (Or ____),An

question 19

Multiple Choice

When demand elasticity is ____ in absolute value (or ____) ,an increase in price will result in a(n) ____ in total revenues.

• A) less than 1; elastic; increase
• B) more than 1; inelastic; decrease
• C) less than 1; elastic; decrease
• D) less than 1; inelastic; increase
• E) none of the above

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