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    Principles of Economics
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    Exam 5: Elasticity and Its Applications
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    Figure 5-5 -Refer to Figure 5-5.An Increase in Price from $20 to Price
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Figure 5-5 -Refer to Figure 5-5.An Increase in Price from $20 to Price

Question 15

Question 15

Multiple Choice

Figure 5-5
Figure 5-5    -Refer to Figure 5-5.An increase in price from $20 to $30 would A) increase total revenue by $2,000. B) decrease total revenue by $2,000. C) increase total revenue by $1,000. D) decrease total revenue by $1,000.
-Refer to Figure 5-5.An increase in price from $20 to $30 would


A) increase total revenue by $2,000.
B) decrease total revenue by $2,000.
C) increase total revenue by $1,000.
D) decrease total revenue by $1,000.

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