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    Exam 5: Elasticity and Its Applications
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    If Demand Is Inelastic Then an Increase in Price Would
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If Demand Is Inelastic Then an Increase in Price Would

Question 250

Question 250

Multiple Choice

If demand is inelastic then an increase in price would cause a _____ in the quantity demanded and a(n) _____ in total revenue:


A) decrease; increase
B) decrease; decrease
C) increase; increase
D) increase; decrease

Correct Answer:

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