Question 11 (3 points) If you run a store and know that the current price you are charging is in the elastic portion of the demand curve (high prices, low quantity demanded), if price falls, what will happen to total revenue? O total revenues will decrease until price falls to $0. O total revenues will decrease until you reach the unit elastic price point. O total revenues will increase until the price falls to $0. O total revenues stays the same because it isn’t impacted by price total revenues will increase until you reach the unit elastic price point. Previous Page Next Page Page 11 of 30
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