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Laurenrees98 Laurenrees98
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5 years ago
Suppose 1000 units of a good are sold at $10 a unit. If its price increases to $20 and total revenue increases to $20,000 and increases by $1000 for every dollar increase in price after that, we know that
A) demand is perfectly elastic.
B) the demand curve is vertical.
C) the demand curve is downward sloping and the firm is on the inelastic portion of the demand curve.
D) the demand curve is a rectangular hyperbola.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
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ediblefruitzediblefruitz
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5 years ago
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Laurenrees98 Author
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#2
5 years ago
Exactly what I needed for my quiz Smiling Face with Open Mouth
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