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    Modern Principles of Economics Study Set 2
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    Exam 5: Elasticity and Its Applications
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    Assume a Product Has an Inelastic Demand Curve
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Assume a Product Has an Inelastic Demand Curve

Question 135

Question 135

True/False

Assume a product has an inelastic demand curve. If the producer of the good raises the price of the product, that producer's total revenue will decrease.

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