Multiple Choice
A firm raises the price it charges. The firm's total revenue does not change. What can we conclude about the price elasticity of demand?
A) Demand is elastic.
B) Demand is perfectly elastic.
C) Demand is unit elastic.
D) Demand is inelastic.
E) Not enough information is given to conclude anything about price elasticity of demand.
Correct Answer:
Verified
Correct Answer:
Verified
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