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Question: in which of the following situations will total revenue increase...

Question details

In which of the following situations will total revenue increase?

a. Price elasticity of demand is -1.2, and the price of the good increases.

b. Price elasticity of demand is -0.5, and the price of the good increases.

c. Price elasticity of demand is -3.0, and the price of the good increases.

d. We don't have enough information to determine total revenue.

e. None of the above are correct.

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