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3. How would the following changes in price affect total revenue for situations a. to g.? That is, would total revenue increase, decrease, or remain

3. How would the following changes in price affect total revenue for situations a. to g.?

That is, would total revenue increase, decrease, or remain unchanged?

a. Price falls and demand is inelastic.

b. Price rises and demand is elastic.

e. Price rises and demand is inelastic.

f. Price falls and demand is elastic.

g. Price falls and demand is of unit elasticity.

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