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Introduction to Economics 1
Introduction to Economics 1 Deneme Sınavı
Introduction to Economics 1 Deneme Sınavı Sorusu #1144367
Introduction to Economics 1 Deneme Sınavı Sorusu #1144367
If demand is elastic that is, elasticity is greater than unity in absolute value,
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the total revenue will increase. |
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the price of goods will fall. |
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the total revenue will fall. |
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the price of goods will increase. |
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the price increases depend on the price elasticity of demand. |
Yanıt Açıklaması:
If demand is elastic, that is, elasticity is greater than unity in absolute value, then a percentage increase in the price will decrease the quantity sold more than a percentage and the total revenue will fall.
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