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Question 7 (1 point) Currently a firm faces a price elasticity of demand of -3.2. If the firm raises its price a modest amount, units

Question 7 (1 point)

Currently a firm faces a price elasticity of demand of -3.2. If the firm raises its price a modest amount, units sold of course will decline, but what will happen to Total Revenue?

Question 7 options:

a)
total revenue will fall

b)
total revenue will rise

c)
I would not pick this answer

d)
total revenue will remain unchanged

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