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If Demand for Farmer John's Maple Syrup Is Inelastic, Then

Question 363

Multiple Choice

If demand for Farmer John's maple syrup is inelastic, then when Farmer John raises the price of maple syrup, his total revenue will


A) increase.
B) decrease.
C) stay the same.
D) probably change, but more information is needed to determine if the total revenue increases, decreases, or stays the same.

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