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If the Price of Good X Rises and the Demand

Question 134

Multiple Choice

If the price of good X rises and the demand for good X is elastic, then the percentage __________ in quantity demanded is __________ the percentage rise in price, and total revenue __________.


A) fall; greater than; rises
B) fall; less than; falls
C) fall; equal to; remains constant
D) rise; greater than; falls
E) fall; greater than; falls

Correct Answer:

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