When a 2 per cent increase in price generates a greater than 2 per cent decrease in quantity demanded, then:
A) demand is price inelastic.
B) total revenue increases.
C) demand is positively sloped.
D) total revenue decreases.

Name: When a 2 per cent increase in price generates a greater than 2 per cent decrease in quantity demanded, then: A) demand is price inelastic. B) total revenue increases. C) demand is positively sloped. D) total revenue decreases.
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Question

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The Answer is D

When a 2 Per Cent Increase in Price Generates a Greater