Question
20. 'Good A' is known to have many close substitutes. Holding all else constant, a price increase would most likely cause total revenues from good
20. 'Good A' is known to have many close substitutes. Holding all else constant, a price increase would most likely cause total revenues from good A to ___. (Hint: Does having many close substitutes make Good A more elastic or more inelastic?)
Group of answer choices
a. decrease
b. stay unchanged
c. increase
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Macroeconomics Principles Applications and Tools
Authors: Arthur O'Sullivan, Steven Sheffrin, Stephen Perez
9th edition
978-0134089027, 134089022, 978-0134420684
