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Question 1 Do the following changes affect total revenue?if so, how would total revenue increase, decline, or remain unchanged? a. if Price falls and demand

Question 1

Do the following changes affect total revenue?if so, how would total revenue increase, decline, or remain unchanged?

a. if Price falls and demand is inelastic.

b. ifPrice rises and demand is elastic.

c. if Price rises and supply is elastic.

d. ifPrice rises and supply is inelastic.

e. if Price rises and demand is inelastic.

f. ifPrice falls and demand is elastic.

g.ifPrice falls and demand is of unit elasticity.

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