If the demand for a good is elastic, then total revenue
a. increases as price increases
b. remains constant as quantity demanded increases
c. increases as price decreases
d. decreases as quantity demanded increases
e. decreases as price decreases
Question 2
If the administration raises tuition on our campus in order to increase revenue, it will
a. not be successful if the demand curve slopes downward
b. be successful if demand is elastic
c. be successful if demand is inelastic
d. be successful if supply is elastic
e. be successful if supply is inelastic
Skeletal remains from the Sima de los Huesos, Sierra de Atapuerca, Spain.
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The original Supply and Demand graph