If demand is unit elastic:
a. Total revenue and prices rise and fall together
b. Total revenue rises as price falls.
c. Total revenue falls as price rises.
d. Total revenue remains constant as price rises or falls.
d
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From 1970 to 2010, the poverty rate in East Asia rose slightly but the level of poverty in sub-Saharan Africa fell dramatically
Indicate whether the statement is true or false
Both the PIH and the LCH predict that
A) the sum of saving and consumer durable purchases should increase in relation to personal income in booms and fall in recessions. B) the sum of saving and consume nondurable purchases should increase in relation to personal income in booms and fall in recessions. C) the sum of saving and consumer durable purchases should decrease in relation to personal income in booms and increase in recessions. D) saving should increase in relation to personal income in booms and fall in recessions, but that consumer durables tend to behave in a more stable manner over a cycle.