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Total revenue increased fro a firm operating in the elastic range of its demand curve. Which of the following statements is correct? A. The firm
Total revenue increased fro a firm operating in the elastic 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 not have changed with a price decrease
D. The price did not change, but demand fell.
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