Math Problem Statement
The portion of the graph in which a increase in price would cause total revenue to rise would be from
Hint: Identify the portion where the demand is inelastic or elastic and then decide on how the total revenue would change based on this price increase
Group of answer choices
A to B because that is the elastic part of the curve
B to C because it is the elastic part of the curve
A to B because it is the inelastic part of the curve
B to C because it is the inelastic part of the curve
Solution
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Math Problem Analysis
Mathematical Concepts
Price Elasticity of Demand
Total Revenue
Inelastic and Elastic Demand
Formulas
Elasticity of Demand = % Change in Quantity / % Change in Price
Theorems
Law of Demand
Total Revenue Test
Suitable Grade Level
Grades 9-12
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