Stats Solutions

(See) How would the following changes in price affect total revenue? That is would total revenue increase, decline, or remain unchanged Price rises and

Question: How would the following changes in price affect total revenue? That is would total revenue increase, decline, or remain unchanged

  1. Price rises and demand is inelastic
  2. Price falls and demand is elastic.
  3. Price rises and supply is elastic
  4. Price falls and demand is unit elastic
  5. Price falls and demand is inelastic

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