Microeconomics: Principles, Problems, & Policies, 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0077660811
ISBN 13: 978-0-07766-081-9

Chapter 6 - Elasticity - Review Questions - Page 150: 4

Answer

Change in revenue = change in price* change in quantity. Elastic demand % change in quantity >% change in price Inelastic demand % change in quantity < %change in price. A. Falls B. Falls C. Can't determine D. Can't determine E. Rises F Rises G Unchanged

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