Consider a demand curve that has a constant elasticity value of 0. What happens to quantity demanded and total revenue when price increases?
A) The quantity demanded does not change but total revenue decreases.
B) The quantity demanded and total revenue fall to zero.
C) The quantity demanded and total revenue remain the same.
D) The quantity demanded does not change but total revenue increases.
D
Economics
You might also like to view...
Globalization, the development of new technology, changes in consumer demand, and the discovery of new resources are all causes of _____.
(A) Cyclical unemployment (B) Structural unemployment (C) Frictional unemployment (D) Seasonal unemployment
Economics
The available credit limit we have in a credit card reflects the amount of money we hold in our savings account
a. True b. False Indicate whether the statement is true or false
Economics