If demand for a product is inelastic, what will happen to total revenue if the price of

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If demand for a product is "inelastic", what will happen to total revenue if the price of the product is decreased? Why will this outcome be observed? Explain this carefully. Provide your own numerical example to illustrate your answer. (10 points)

Posted Date: Jun 12, 2024 02:13 PM

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If demand for a product is inelastic, what will happen to total revenue if the price of

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