If price decreases and demand is ________ then total revenue will decline
a. perfectly elastic
b. inelastic
c. unit elastic
d. elastic
b
Economics
You might also like to view...
What would be the consequence for the Lorenz curve is rich people use their resources more efficiently than poor people?
What will be an ideal response?
Economics
One major role that the government plays in the market economy of the U.S. is:
One major role that the government plays in the market economy of the U.S. is: A. Setting production targets for major industries B. Requiring minimum levels of employment in major industries C. Allocating resources in various market activities D. Setting laws governing economic activity
Economics