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what is it called when raising the price of a good will increase the firm's total revenue, decreasing the price will decrease the total revenue?
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what is it called when raising the price of a good will increase the firm's total revenue, decreasing the price will decrease the total revenue?

User HBomb
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Answer:

total revenue test: elastic. If demand is elastic, a decrease in price will increase total revenue, and an increase in price will reduce total revenue. total revenue: inelastic.

Step-by-step explanation:

User Nagev
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