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Question 47 (2 points) A price cut will increase the total revenue a firm receives, ceteris paribus, only if the demand for its product is:

Question 47 (2 points) A price cut will increase the total revenue a firm receives, ceteris paribus, only if the demand for its product is: O a) Elastic. O b) Inelastic. O c) Unitary elastic. O d) Perfectly inelastic (i.e., E = 0)

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