7. Elasticity and revenue. For each of the scenarios, will total revenue rise, fall or stay the same? a. If demand...
amorow7. Elasticity and revenue. For each of the scenarios, will total revenue rise, fall or stay the same?
a. If demand is relatively elastic and price falls.
b. If demand is relatively inelastic and price rises.
c. If demand is unit elastic and price falls.
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