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Which of the following correctly describes the relationship between price and total receipts? a A direct relationship between price and TR when the good is

Which of the following correctly describes the relationship between price and total receipts?

A direct relationship between price and TR when the good is elastic

A direct relationship between price and TR when the good is inelastic

An inverse relationship exists between price and TR when the good is inelastic

An inverse relationship exists between price and TR when the good is elastic

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