Holding All Other Forces Constant,if Increasing the Price of a Good

question 168

Multiple Choice

Holding all other forces constant,if increasing the price of a good leads to an increase in total revenue,then the demand for the good must be

• A)unit elastic.
• B)inelastic.
• C)elastic.
• D)None of the above is correct because a price increase always leads to an increase in total revenue.

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Definitions:

Effective Management

Practices and techniques that lead to achieving desired results through efficient use of resources and team coordination.

Bullwhip Effect

A phenomenon where inaccurate or distorted information in a supply chain causes overreaction and variability in orders, often leading to inefficiency and excess inventory.

Weighted Total

A calculated total in which different components are given different levels of importance or weight, often used in assessments or decision-making processes.

Lot Size

Refers to the set quantity of items that are processed, ordered, or produced together at a time.