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Lauren1 Lauren1
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Posts: 4120
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10 years ago
If the demand for a good is unit elastic,
A) a 5 percent increase in price results in a 5 percent increase in total revenue.
B) a 5 percent increase in price results in a 5 percent decrease in total revenue.
C) a 5 percent increase in price does not change total revenue.
D) the demand curve is a straight line with slope of -1.
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MrDerecheMrDereche
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#1
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10 years ago
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Lauren1 Author
wrote...
#2
10 years ago
Thank you, this really, really helps Heavy Heart
wrote...
#3
10 years ago
You're welcome!
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