Use the table below to answer the following questions.
Table 4.1.1
Demand schedule for good A.

-Refer to Table 4.1.1. If the price of good A falls from $4 to $3,
A)total revenue will increase.
B)total revenue will remain constant.
C)demand is elastic in this range.
D)demand is unit elastic in this range.
E)demand is inelastic in this range.

Question

Use the table below to answer the following questions.
Table 4.1.1
Demand schedule for good A.
 
-Refer to Table 4.1.1. If the price of good A falls from $4 to $3,
A)total revenue will increase. 
B)total revenue will remain constant. 
C)demand is elastic in this range. 
D)demand is unit elastic in this range. 
E)demand is inelastic in this range.

Quizplus · Accepted Answer

The Answer of Use the table below to answer the following questions.
Table 4.1.1
Demand schedule for good A.
 
-Refer to Table 4.1.1. If the price of good A falls from $4 to $3,
A)total revenue will increase. 
B)total revenue will remain constant. 
C)demand is elastic in this range. 
D)demand is unit elastic in this range. 
E)demand is inelastic in this range.

Use the Table Below to Answer the Following Questions