7. Assume a good has a downward-sloping, linear demand curve. As the price of this good increases, total revenue: * Increases indefinitely. O Increases then decreases. O Decreases indefinitely because the quantity sold will decrease. Remains constant.

7. Assume a good has a downward-sloping, linear demand curve. As the price of this good increases, total revenue: * Increases indefinitely. O Increases then decreases. O Decreases indefinitely because the quantity sold will decrease. Remains constant.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section: Chapter Questions

Problem 4PA: A price change causes the quantity demanded of a good to decrease by 30 percent, while the total...

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7. Assume a good has a downward-sloping, linear demand curve. As the price of
this good increases, total revenue: *
Increases indefinitely.
OIncreases then decreases.
Decreases indefinitely because the quantity sold will decrease.
O Remains constant.

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