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Practice Question for Elasticity and Revenue
Related Topics
Wize University Microeconomics Textbook > Elasticity
Different Elasticities Along the Demand Curve and Total Revenue
2 Activities
Effects of Elasticity on the Total Revenue
(TR) of a company
Describe what happens to TR in each case.
Part 1
Part 2
Part 3
When demand is elastic
As P increases, Q decreases less → TR increases
As P increases, Q decreases more → TR decreases
As P increases, Q decreases by same amount → TR remains unchanged
None of the above
I don't know
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