Suppose a firm cannot figure out whether the demand for the good it sells is elastic or

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Suppose a firm cannot figure out whether the demand for the good it sells is elastic or inelastic but discovers that every time it raises its price, its total revenue declines. Their

A. Demand is unit elastic

B. Demand is elastic

C. Demand is inelastic

D. Demand is perfectly inelastic

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Issues in Economics Today

ISBN: 978-1259746390

8th edition

Authors: Robert C. Guell

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Question Posted: Apr 24, 2018 01:28 AM

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Suppose a firm cannot figure out whether the demand for the good it sells is elastic or

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B Demand is elastic Explanation If the price and the amount you ...View the full answer

Issues in Economics Today

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