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-Consider Exhibit 5-28

Question 164

Multiple Choice

-Consider Exhibit 5-28. When supply increase from S<sub>1</sub> to S<sub>2</sub>, total revenue increases from $275 to $300. This means that demand must be A) perfectly elastic B) elastic C) perfectly inelastic D) inelastic E) unit elastic
-Consider Exhibit 5-28. When supply increase from S1 to S2, total revenue increases from $275 to $300. This means that demand must be


A) perfectly elastic
B) elastic
C) perfectly inelastic
D) inelastic
E) unit elastic

Correct Answer:

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