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MULTIPLE CHOICE. DON'T NEED TO SHOW WORK Total revenue increased for a firm operating in the inelastic range of its demand curve.Which of the following

MULTIPLE CHOICE. DON'T NEED TO SHOW WORK

Total revenue increased for a firm operating in the inelastic range of its demand curve.Which of the following statements is correct?

a.The firm must have raised price.

b.The firm must have lowered price.

c.Quantity demanded must have decreased.

d.both a and c

e.both b and c

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