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1)When the price elasticity of demand is greater than one,price and total revenue: a) directly related, b) are inversely related, c) are unrelated d) all
1)When the price elasticity of demand is greater than one,price and total revenue: a) directly related, b) are inversely related, c) are unrelated d) all of the above are possible. 2) Good C has an income elasticity of demand of -27. Good C is : a) a normal good, b) an abnormal good , c) an inferior good, d) a superior good
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