question 19 and 20 please QUESTION 19When the demand of a product is elastic then an increase in the price of that good will cause the total revenueO to stay the same.O to increase.O to decrease.O cannot be determined.QUESTION 20A perfectly inelastic demand isO 1O infinity.O none of the other options are correct.

In the market, the price elasticity of demand plays a significant role for a producer to determine…

QUESTION 19 When the demand of a product is elastic then an increase in the price of that good will cause the total revenue O to stay the same. to increase. O to decrease. cannot be determined. QUESTION 20 A perfectly inelastic demand is 01 infinity. none of the other options are correct.

QUESTION 19 When the demand of a product is elastic then an increase in the price of that good will cause the total revenue O to stay the same. to increase. O to decrease. cannot be determined. QUESTION 20 A perfectly inelastic demand is 01 infinity. none of the other options are correct.

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 3QR

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