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Figure 5-7 -Refer to Figure 5-7.For Prices Above $8,demand Is Price

Question 347

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Figure 5-7
Figure 5-7 -Refer to Figure 5-7.For prices above $8,demand is price A) elastic, and total revenue will rise as price rises. B) inelastic, and total revenue will rise as price rises. C) elastic, and total revenue will fall as price rises. D) inelastic, and total revenue will fall as price rises.
-Refer to Figure 5-7.For prices above $8,demand is price


A) elastic, and total revenue will rise as price rises.
B) inelastic, and total revenue will rise as price rises.
C) elastic, and total revenue will fall as price rises.
D) inelastic, and total revenue will fall as price rises.

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