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PHaMRoL1952 PHaMRoL1952
wrote...
Posts: 5
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3 years ago
If the price elasticity of demand for petrol equals 0.3, then an increase in the price of a litre of petrol $3.70 to $3.90
A.   Increases total revenue
B.   Decreases total revenue
C.   Leads to no change in total revenue
D.   Makes the demand for petrol elastic
E.   Both B and D are correct
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