When demand is inelastic, the price effect dominates the quantity effect; so a fall in price reduces

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■ When demand is inelastic, the price effect dominates the quantity effect; so a fall in price reduces total revenue.

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Essentials Of Economics

ISBN: 9781429218290

2nd Edition

Authors: Paul Krugman, Robin Wells, Kathryn Graddy

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Question Posted: Oct 03, 2024 03:03 AM

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When demand is inelastic, the price effect dominates the quantity effect; so a fall in price reduces total revenue.
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When demand is inelastic, the price effect dominates the quantity effect; so a fall in price reduces

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Essentials Of Economics

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