The relationships between elasticity and total revenue hold because:
a. total revenue equals price divided by quantity demanded
b. total revenue equals price times quantity demanded
c. a drop in price has two opposing effects on the two components of the formula
d. both b and c
d
Economics
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Deficits are created by governments running a large debt
a. True b. False Indicate whether the statement is true or false
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Economic growth can be depicted as
A. an inward shift on the production possibilities curve. B. an outward shift on the production possibilities curve. C. a movement down on the production possibilities curve. D. a movement up on the production possibilities curve.
Economics