(114. The fall in revenue from lower quantity is smaller than the increase in revenue from higher so revenue rises. A. Price B. Income C. production (115. For many goods, price elasticity of is greater in the long run than in the short run, because firms can build new factories, or new firms may be able to enter the market. A. Demand B. Supply C. Income (116. When more of a commodity is always preferred, the commodity is a A. bad B. best C. good Q17. If every commodity is a then indifference curves are negatively sloped. A. bad B. best C. good