Refer to the information provided in Figure 5.4 below to answer the question(s) that follow.
Figure 5.4Refer to Figure 5.4. The demand for milkshakes is unit elastic at Point C. If the milkshake price rises from P2 to P1, total revenue will
A. increase.
B. decrease.
C. either increase or decrease.
D. remain constant.
Answer: B
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What will be an ideal response?
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What will be an ideal response?