Solved

Use the Table Below to Answer the Following Questions

Question 72

Multiple Choice

Use the table below to answer the following questions.
Table 4.1.1
Demand schedule for good A.
Use the table below to answer the following questions. Table 4.1.1 Demand schedule for good A.    -Refer to Table 4.1.1. If the price of good A falls from $4 to $3, A) total revenue will increase. B) total revenue will remain constant. C) demand is elastic in this range. D) demand is unit elastic in this range. E) demand is inelastic in this range.
-Refer to Table 4.1.1. If the price of good A falls from $4 to $3,


A) total revenue will increase.
B) total revenue will remain constant.
C) demand is elastic in this range.
D) demand is unit elastic in this range.
E) demand is inelastic in this range.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions