In which of the following cases will total revenue increase?

A. Price falls and demand is inelastic.
B. Price falls and supply is elastic.
C. Price rises and demand is inelastic.
D. Price rises and demand is elastic.


Answer: C

Economics

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In the long run, a reduction in labor supply would cause output to ________ and the aggregate price level to ________

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If an economist were to disregard unionized government employees, then current U.S. labor market statistics would show that _________

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