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20 Jan 2018
23. A technological breakthrough lowers the cost of photocopiers. If the demand for photocopiers is price elastic, photocopier sales will A) fall and total revenue will rise. B) fall and total revenue will fall. C) rise and total revenue will rise. rise and total revenue will fall. E) rise, but changes in total revenue will depend on elasticity of supply
23. A technological breakthrough lowers the cost of photocopiers. If the demand for photocopiers is price elastic, photocopier sales will A) fall and total revenue will rise. B) fall and total revenue will fall. C) rise and total revenue will rise. rise and total revenue will fall. E) rise, but changes in total revenue will depend on elasticity of supply
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