Multiple Choice
When the NES Group lowered the price of its professional-grade meat slicers from $2,300 to $1,600,demand doubled from four units sold per month to eight units per month.However,total revenue dropped.This is an example of:
A) substitute goods
B) unitary elasticity
C) elastic demand
D) consumer shortage
E) inelastic demand
Correct Answer:
Verified
Correct Answer:
Verified
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