When demand is elastic
A) changes in price and changes in total revenue move in the same direction.
B) there is no relationship between changes in price and changes in total revenue.
C) changes in price and changes in total revenue move in opposite directions.
D) for any change in price, total revenue will not change.
Answer: C
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What will be an ideal response?
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a. True b. False Indicate whether the statement is true or false
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