Multiple Choice
Suppose that the total-revenue curve is derived from a particular linear demand curve. That demand curve must be
A) inelastic for price declines that increase quantity demanded from 6 units to 7 units.
B) elastic for price declines that increase quantity demanded from 6 units to 7 units.
C) inelastic for price increases that reduce quantity demanded from 4 units to 3 units.
D) elastic for price increases that reduce quantity demanded from 8 units to 7 units.
Correct Answer:
Verified
Correct Answer:
Verified
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