7) Total revenue decreases a) If demand is unit elastic and a given percentage rise in...
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7) Total revenue decreases a) If demand is unit elastic and a given percentage rise in price brings a percentage increase in the quantity demanded b) If demand is inelastic and a given percentage rise in price brings a smaller percentage decrease in the quantity demanded c) If demand is elastic and a given percentage rise in price brings a larger percentage decrease in the quantity demanded d) if demand is perfectly inelastic 7) Total revenue decreases a) If demand is unit elastic and a given percentage rise in price brings a percentage increase in the quantity demanded b) If demand is inelastic and a given percentage rise in price brings a smaller percentage decrease in the quantity demanded c) If demand is elastic and a given percentage rise in price brings a larger percentage decrease in the quantity demanded d) if demand is perfectly inelastic
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