If demand is unit elastic, revenue
a. and price rise and fall together.
b. rises as price falls.
c. falls as price rises.
d. remains constant as price rises or falls.
d
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Which of the following statements is true?
A) The basis for both first-degree price discrimination and third-degree price discrimination is differences in the buyers' willingness to pay for a good. B) The basis for both first-degree price discrimination and third-degree price discrimination is differences in the sellers' willingness to accept payment for a good. C) The basis for first-degree price discrimination is differences in willingness to pay, whereas the basis for third-degree price discrimination is differences in the sellers' willingness to accept payment for a good. D) The basis for first-degree price discrimination is differences in the seller's willingness to accept payment for a good, whereas the basis for third-degree price discrimination is differences in buyers' willingness to pay for a good.
Capital is
A) liquidity. B) interest. C) produced goods that can be used to produce future goods. D) non-existent in a socialist economy. E) all of the above.