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Title: Total revenue is the same for every price-quantity combination along a unit elastic demand curve. ... Post by: kaefol on Feb 27, 2018 Total revenue is the same for every price-quantity combination along a unit elastic demand curve.
a. True b. False QUESTION 2 If demand is elastic, a decrease in price leads to a decrease in total revenue. a. True b. False QUESTION 3 As price decreases along a linear demand curve, price elasticity of demand decreases. a. True b. False QUESTION 4 A perfectly inelastic demand curve is a. a vertical straight line b. a horizontal straight line c. a downward-sloping straight line d. an upward-sloping straight line e. not a straight line QUESTION 5 If a firm facing a perfectly elastic demand curve raises its price, a. it will still sell exactly the same amount of output as it did at the lower price b. it will lose some, but not all, of its sales c. its sales will decrease to zero d. its sales will increase e. it is impossible to predict what will happen to its sales QUESTION 6 A perfectly elastic demand curve is a. a vertical straight line b. a horizontal straight line c. a downward-sloping straight line d. an upward-sloping straight line e. not a straight line Title: Total revenue is the same for every price-quantity combination along a unit elastic demand curve. ... Post by: pur on Feb 27, 2018 |