If the Price of a Good Is Increased and Total

question 43

Multiple Choice

If the price of a good is increased and total revenue received from the sale of this good increases,then the price elasticity of demand for the good is

• A)elastic.
• B)inelastic.
• C)unitary.
• D)None of the above

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Definitions:

Hemisphere

Each of the two halves of the brain or the globe, typically referred to as the left and right in the brain, and northern and southern in terms of the earth.

Language

A system of communication that uses symbols, such as words, sounds, or gestures, to convey meaning.

Visual-Spatial

Relating to the ability to perceive the spatial relationship between objects, often involved in tasks requiring visual imagery or navigation.

Hemisphere

Half of a spherical or roughly spherical body, especially one of the halves into which the Earth is divided.