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Question
When the total revenue is unchanged despite the change in price, demand is
a. elastic.
b. inelastic.
c. unitary elastic.
d. horizontal.
e. vertical.
Answer
This answer is hidden. It contains 83 characters.
Related questions
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The economic entity most likely to engage in price gouging is
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What will an individual do differently as a buyer in the black market in the long run?
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Q:
What is the long-run consequence of a price ceiling law?
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b. A surplus will continue to exist and will grow smaller over time.
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Q:
Suppose Solomon lives in a community with no price controls. What do you expect will happen if his town borders a community where there is a binding price ceiling on most products?
a. Prices in the legal market in the community with a binding price ceiling will rise.
b. Prices in the legal market in the community with a binding price ceiling will fall.
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Q:
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Q:
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Q:
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