If total revenue rises as a result of a decrease in the price of a given good,

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If total revenue rises as a result of a decrease in the price of a given good, it follows that demand is

Inelastic.

Perfectly inelastic.

Elastic.

Unit elastic.

None of the above

Related Book For answer-question

Exploring economics

ISBN: 9781439040249

5th edition

Authors: Robert L sexton

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Posted Date: Jun 18, 2019 01:03 AM

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If total revenue rises as a result of a decrease in the price of a given good,

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Option 3 Elastic Total revenue is maximum at unit elasti... View the full answer

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