Question 4If an increase in the price of a good has no impact on the total revenue in that market, demand must beYour answer:unit price elastic.Oprice elasticO price inelastic.O all of these answers.

Total revenue is the revenue which has been generated by sale of all goods. This is given as:- TR…

Question 4 If an increase in the price of a good has no impact on the total revenue in that market, demand must be Your answer: O unit price elastic. Oprice elastic. O price inelastic. O all of these answers.

Question 4 If an increase in the price of a good has no impact on the total revenue in that market, demand must be Your answer: O unit price elastic. Oprice elastic. O price inelastic. O all of these answers.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter5: Elasticity

Section: Chapter Questions

Problem 34P: The equation for a demand curve is P=2/Q. What is the elasticity of demand as price falls from 5 to...

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