If a firm raises its price by 7 percent and total revenue increases, then
A) the demand is elastic at the prices the firm is charging.
B) the demand is unitary at the prices the firm is charging.
C) the demand is inelastic at the prices the firm is charging.
D) All of the above are correct.
Correct Answer:
Verified
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A)
Q53: Linear demand curve below the midpoint is
A)
Q54: Linear demand curve above the midpoint is
A)
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