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Figure 5-7 -Refer to Figure 5-7.For Prices Below $8,demand Is Price

Question 2

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Figure 5-7
Figure 5-7 -Refer to Figure 5-7.For prices below $8,demand is price A) elastic, and total revenue will rise as price rises. B) inelastic, and total revenue will rise as price rises. C) elastic, and total revenue will fall as price rises. D) inelastic, and total revenue will fall as price rises.
-Refer to Figure 5-7.For prices below $8,demand is price


A) elastic, and total revenue will rise as price rises.
B) inelastic, and total revenue will rise as price rises.
C) elastic, and total revenue will fall as price rises.
D) inelastic, and total revenue will fall as price rises.

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