If demand is price inelastic, then when price rises, total revenue
a. will fall.
b. will rise.
c. will remain unchanged.
d. may rise, fall, or remain unchanged. More information is need to determine the change in total revenue with certainty.
b
Economics
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The utility associated with the payoffs in a risky situation increases ____________ than the dollar value of these payoffs
Fill in the blank(s) with the appropriate word(s).
Economics
All other things unchanged, we expect that an increase in interest rates will tend to
A) increase the quantity of money demanded and increase velocity. B) increase the quantity of money demanded and reduce velocity. C) reduce the quantity of money demanded and increase velocity. D) reduce the quantity of money demanded and reduce velocity.
Economics