Multiple Choice
From a firm's point of view,when the demand for a good has a price elasticity of 0.5,then,all things remaining the same,a(n) ________.
A) increase in the price of the good will decrease the firm's revenue
B) increase in the price of the good will increase the firm's revenue
C) change in the price of the good will not affect the firm's revenue
D) change in the price of the good will not affect the quantity demanded of the good by consumers
Correct Answer:
Verified
Correct Answer:
Verified
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