If a firm lowered the price of the product it sells and found that total revenue did not change, then the demand for its product is
A) perfectly inelastic.
B) perfectly elastic.
C) unit elastic.
D) relatively elastic.
Answer: C
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What will be an ideal response?
Personal income represents what households actually receive as income, while personal disposable income nets out of personal income taxes paid to federal, state, and local governments
Indicate whether the statement is true or false
If the economy experiences an unplanned inventory accumulation at the full employment level of GDP, then the economy is in a(n)
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