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Regarding Demand Elasticity, Which of the Following Statements Is Correct

Question 163

Multiple Choice

Regarding demand elasticity, which of the following statements is correct?


A) If demand for seller's product is elastic, a price increase will decrease total revenue.
B) If demand for seller's product is elastic, a price increase will increase total revenue.
C) If demand is exactly unit elastic, an increase in price will raise total revenue
D) If demand is exactly unit elastic, an increase in price will raise total revenue.

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