Total revenue will increase if: Price increase, elastic product only if the demand is perfectly elastic. Price increase, inelastic product Price decrease, inelastic product
Total revenue will increase if: Price increase, elastic product only if the demand is perfectly elastic. Price increase, inelastic product Price decrease, inelastic product
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter7: Demand And Supply
Section7.2: The Demand Curve And Elasticity Of Demand
Problem 1R
Question
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