Essay
Which of the following is true about the price elasticity of demand?
A.When demand is perfectly inelastic, a rise in the price leads to a decrease in total revenue.
B.When demand is perfectly elastic, a rise in the price leads to an increase in total revenue.
C.When demand is inelastic, a rise in the price leads to an increase in total revenue.
D.When demand is elastic, a decrease in the price leads to a decrease in total revenue.
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