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28 Nov 2020
In which of the following instances will total revenue decline?
a. Price rises and demand is elastic.
b. Price rises and demand is inelastic
c. Price falls and demand is elastic.
d. Price rises and supply is elastic
In which of the following instances will total revenue decline?
a. Price rises and demand is elastic.
b. Price rises and demand is inelastic
c. Price falls and demand is elastic.
d. Price rises and supply is elastic
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