Multiple Choice
Use the table below to answer the following question.
Table 4.1.4
-Refer to Table 4.1.4. The table shows the demand schedule for computer chips. As the price rises from $200 a chip to $300 a chip, total revenue ________. So at a price of $250 a chip, demand is ________.
A) falls; inelastic
B) rises; inelastic
C) falls; rises
D) rises; elastic
E) rises; unit elastic
Correct Answer:
Verified
Correct Answer:
Verified
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