If the demand for a good is unit elastic and the owner of the store mistakenly decrease
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Question:
If the demand for a good is unit elastic and the owner of the store mistakenly decrease the price of the good instead of raising it:
Group of answer choices
then total revenue increases
then total revenue decreases
the direction of the change in total revenue cannot be determined from the information given
then total revenue is not affected
Related Book For
Intermediate Accounting principles and analysis
ISBN: 978-0471737933
2nd Edition
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
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