Economy, asked by roses3687, 1 year ago

If there is 50% rise in price and there is no change in Quantity demanded, then the elasticity of demand is ? (a) Zero (b) Infinity (c) Equal to one (d) Greater than one

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Answered by ob23427795

If demand is price elastic, then: a) a rise in price will raise total revenue. b) a fall in price will raise total revenue. c) a fall in price will lower the quantity demanded.

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