Which of the following statements about the relationship between the price elasticity of demand and revenue is TRUE a. If demand is price inelastic, then increasing price will decrease revenue O b. If demand is price elastic, then decreasing price will increase revenue OC. If demand is perfectly inelastic, then revenue is the same at any price Od. Elasticity is constant along a linear demand curve and so is revenue

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Chapter1: Making Economics Decisions
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Which of the following statements about the relationship between the price elasticity of demand and revenue is TRUE

a. If demand is price inelastic, then increasing price will decrease revenue

O b. If demand is price elastic, then decreasing price will increase revenue

OC. If demand is perfectly inelastic, then revenue is the same at any price

Od. Elasticity is constant along a linear demand curve and so is revenue

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