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if the demand is , a fall in price total revenue. question 18 options: a) elastic; decreases b) elastic; increases c) inelastic; increases d) inelastic; does not change

Sagot :

If demand is, the price will drop, increasing revenue. A possible alternative is elastic; declines.

Revenue will decrease when prices drop and demand is elastic.

If a corporation lowers its pricing, the percentage decrease in price will cause an even higher percentage rise in the number of units sold, increasing overall revenue. This is the case if demand is elastic at a certain price level.

Does inelastic demand result in a decline in overall revenue?

A price change that decreased resulted in reduced overall revenue if you were insignificant, which occurs when a significant percent change in price results but a smaller percent increase in supply required.

When prices drop, what occurs to claim?

The quantity requested of a good rises when the price of that good decreases.

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