In the above figure, at point b on the demand curve, a price cut of one dollar will
A) increase total revenue.
B) decrease total revenue.
C) leave total revenue unchanged.
D) have an indeterminate effect on total revenue.
A
Economics
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According to the Hotelling Principle, the price of a nonrenewable resource is expected to
A) rise at a rate higher than the interest rate. B) rise at a rate lower than the interest rate. C) rise at a rate equal to the interest rate. D) fall at a rate equal to the interest rate.
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