A decrease in total revenue will result if
A) demand is inelastic and price increases.
B) demand is elastic and price decreases.
C) demand is inelastic and price decreases.
D) demand is unitary elastic and price decreases.
C
You might also like to view...
It never occurred to Keynesians that they would have to choose between policies to control unemployment and policies to control inflation
Indicate whether the statement is true or false
A cartel finds it difficult to act as a monopolist because the products sold by each firm in a cartel are slightly differentiated
a. True b. False Indicate whether the statement is true or false
The factor that most often leads to underpricing and overuse of an economic resource is human greed.
Answer the following statement true (T) or false (F)
Price for a 27 TV = $450. Consumers buy 1000 of them, prices rises to $550 by 600 of them. What is the price elasticity of demand in this range?
What will be an ideal response?