How would the following changes in price affect total revenue? That is, would total revenue increase, decrease,

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How would the following changes in price affect total revenue? That is, would total revenue increase, decrease, or remain unchanged? LO2

a. Price f alls and demand is inelastic.

b. Price rises and demand is elastic.

c. Price rises and supply is elastic.

d. Price rises and supply is inelastic.

e. Price rises and demand is inelastic.

f. Price aflls and demand is elastic.

g. Price af lls and demand isf ounit elasticity.

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Essentials Of Economics

ISBN: 9780077502140

3rd Edition

Authors: Stanley Brue, Campbell McConnell, Sean Flynn

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