Multiple Choice
When Nina decreases her price of lipstick from $7 to $5, she finds that her sales increase from 6 to 7. She faces demand for her product, and this price change will her total revenue.
A) elastic; raise
B) inelastic; lower
C) unitary elastic; not change
D) perfectly elastic; raise
E) perfectly inelastic; lower
Correct Answer:
Verified
Correct Answer:
Verified
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