Total Revenue Increases If the Price of the Good

question 186

Multiple Choice

Total revenue increases if the price of the good

• A) rises and demand is elastic.
• B) rises and demand is inelastic.
• C) rises and demand is unit elastic.
• D) falls and supply is inelastic.
• E) falls and demand is unit elastic.

---

Definitions:

Negative Correlation

A relationship between two variables where one variable increases as the other decreases, and vice versa.

Scientific Observation

The process of gathering empirical data through the senses or instruments as part of the scientific method to understand phenomena.

Systematically

An approach or method performed in an organized, methodical, and consistent manner, often to ensure efficiency and effectiveness in achieving certain goals or outcomes.

Objectively

In a manner that is not influenced by personal feelings or opinions, focusing only on facts.