Demand Review: (pick one) 23) Total revenue (increase/decrease) if an elastic products price decreases. 24) Total revenue (increase/decrease) if an inelastic products price decreases.

Md Ariful Islam

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23) Total revenue increase if an elastic product's price decreases.

24) Total revenue decrease if an inelastic product's price decreases.

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The demand equation for a product is given by P = 30 - 0.1q^2 . (a)At what point price is demand inelastic? (b)at what price is demand unitary elastic

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The demand equation for a product is given by P=30-0.1q2 . (a)At what point price is demand inelastic? (b)at what price is demand unitary elastic

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