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

question 25

Multiple Choice

Holding all other forces constant,if decreasing 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 decrease never leads to an increase in total revenue.

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Definitions:

Sensory Memory

The shortest-term element of memory, where sensory information is retained for very short periods, usually under a second.

Executive Control System

A cognitive system responsible for planning, decision-making, problem-solving, and regulating attention and thoughts, critical for goal-directed behavior.

Rehearsal Loop

A cognitive process involving the repetition of information to keep it in short-term memory or to encode it into long-term memory.

Visuospatial Sketchpad

A component of Baddeley's model of working memory, responsible for the temporal storage and manipulation of visual and spatial information.