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Economics - Financial Markets 10 Online
OpenStudy (anonymous):

If a firm raises the pirce of a product with elastic demand, what wiill happen to the total revenue? Question 23 options: It increases It decreases A change in an area other than price A change in price and availability

OpenStudy (anonymous):

Elastic refers to the fact that the market for that product will drastically change with price changes. The demand would decrease in this case therefore reducing revenue. I believe.

OpenStudy (anonymous):

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