cain9201 cain9201

12-06-2024
Mathematics

Answered

Suppose the own price elasticity of demand for good X is -1.2, and the quantity of good X increases by 10 percent. This means that:
a. total revenue has increased
b. total revenue has decreased
c. price must have decreased, so Total revenue has decreased
d. price has increased, so Totsl revenue also increased

Answer :

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