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Question 88

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Use the following to answer questions:
Figure: The Demand Curve for Oil Use the following to answer questions: Figure: The Demand Curve for Oil -(Figure: The Demand Curve for Oil) Look at the figure The Demand Curve for Oil. Demand is price _____ between $20 and $21, since total revenue _____ when the price _____. A) elastic; increases; decreases B) inelastic; stays the same; decreases C) elastic; decreases; increases D) inelastic; increases; increases
-(Figure: The Demand Curve for Oil) Look at the figure The Demand Curve for Oil. Demand is price _____ between $20 and $21, since total revenue _____ when the price _____.


A) elastic; increases; decreases
B) inelastic; stays the same; decreases
C) elastic; decreases; increases
D) inelastic; increases; increases

Correct Answer:

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