### Complete the Following**Question:**When demand has unit elasticity, revenue will decrease if:**Answer Choices:**1. the price is changed in either direction2. the price is lowered3. the price stays the same4. the price is raisedA drop-down menu displays these options for selection.Below the question and options, there is a "Submit Answer" button for users to submit their response after making a selection from the drop-down list.Additionally, there is a "DETAILS" section button below the answer submission section, which may offer more context or information related to the question when clicked. This type of question is aimed at testing students' understanding of the concept of unit elasticity in economics, where the percentage change in quantity demanded is equal to the percentage change in price, hence total revenue remains unchanged if price changes.

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When demand has unit elasticity, revenue will decrease if

Calculus: Early Transcendentals

8th Edition

ISBN:9781285741550

Author:James Stewart

Publisher:James Stewart

Chapter1: Functions And Models

Section: Chapter Questions

Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...

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