If the price of good X falls and the demand for good X is unit elastic, then the percentage rise in quantity demanded is the percentage fall in price, and total revenue greater than; rises less than; falls greater than; falls O equal to; remains constant

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
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ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
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Chapter3: Demand Analysis
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Problem 2E: The price elasticity of demand for personal computers is estimated to be 2.2. If the price of...
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If the price of good X falls and the demand for good X is unit elastic, then the
percentage rise in quantity demanded is
the percentage fall in price, and
total revenue,
greater than; rises
less than; falls
Ogreater than; falls
O equal to; remains constant
Oless than; rises
Transcribed Image Text:If the price of good X falls and the demand for good X is unit elastic, then the percentage rise in quantity demanded is the percentage fall in price, and total revenue, greater than; rises less than; falls Ogreater than; falls O equal to; remains constant Oless than; rises
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