Author Question: The demand for a good is elastic if A) an increase in its price results in an increase in total ... (Read 112 times)

Sportsfan2111 · **on:** Jun 29, 2018

The demand for a good is elastic if

A) an increase in its price results in an increase in total revenue.
B) a decrease in its price results in a decrease in total revenue.
C) an increase in its price results in a decrease in total revenue.
D) the good is a necessity.

Question 2

In the table above, what price level belongs in space D?

A) 125
B) 130
C) 140
D) 145