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-Widgets, Inc

Question 17

Multiple Choice

-Widgets, Inc. can increase its total revenue by lowering the price of its product. From this result we can conclude that the A) decrease in price increases demand for the firm's product. B) firm sells an inferior good. C) demand for the firm's product is price inelastic. D) demand for the firm's product is price elastic.
-Widgets, Inc. can increase its total revenue by lowering the price of its product. From this result we can conclude that the


A) decrease in price increases demand for the firm's product.
B) firm sells an inferior good.
C) demand for the firm's product is price inelastic.
D) demand for the firm's product is price elastic.

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