If the price is reduced from $100 to $80 in Figure 20.1, ceteris paribus,

A. Total revenue will decrease.
B. Total revenue will increase.
C. Quantity demanded will decrease.
D. Demand will increase.


Answer: A

Economics

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a. greater than one b. less than one c. one d. zero e. infinity

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More farmers have recently entered the corn industry. In addition there has been a technological advancement in the fertilizer industry providing corn farmers with a cheaper and a more effective fertilizer. In the market for corn, the effects these

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