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thanhha78 thanhha78
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7 years ago
Suppose that an Italian ice cream firm is facing a linear demand curve and that the current price for the Italian ice cream is set at a point where the price elasticity is 0.7. If the firm decreases the product price,
A) the demand becomes less inelastic and total revenue increases.
B) the demand becomes more inelastic and total revenue increases.
C) the demand becomes less inelastic and total revenue decreases.
D) the demand becomes more inelastic and total revenue decreases.
Textbook 
Survey of Economics: Principles, Applications and Tools

Survey of Economics: Principles, Applications and Tools


Edition: 6th
Authors:
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Lightman030Lightman030
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5 years ago
Thank you
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4 years ago
thank you
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