If demand is inelastic and price is lowered, total revenue will
A. rise.
B. fall.
C. stay the same.
D. possibly rise or possibly fall.
B. fall.
You might also like to view...
What is the Ricardo-Barro effect and how does it modify the crowding-out effect?
What will be an ideal response?
Country A and Country B initially have the same real GDP per capita. Country A experiences no economic growth, while Country B grows at a sustained rate of 5 percent. In 14 years, Country A's GDP will be approximately ____ that of Country B
a. one-fourth b. one-half c. double d. triple
The United States has, by far, the largest national debt as a percentage of its GDP among industrialized nations.
a. true b. false
"Do not put all your eggs in one basket" is an advice that seeks to reduce:
A. Idiosyncratic risk B. Non-diversifiable risk C. Systemic risk D. Market risk