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Answer to Question #217334 in Economics for Paballo
Question #217334
- If the total revenue from the sales of a good rises by 10% when its price is increased by 10%, the demand for the good must A. be perfectly price inelastic.
- B. be perfectly price elastic.
- C. have a price elasticity of -1.
- D. be unitary elastic.
Expert's answer
- B. be perfectly price elastic.
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