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26 December, 11:57

Total revenue falls as the price of a good is raised, if the demand for the good is:

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  1. 26 December, 12:58
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    The answer to this question is Elastic

    Elastic goods refers to the type of goods which order could be easily influenced by the price volatility.

    When the price of elastic good is raised, the customers will reduce their demand upon that product which lead to total revenue falls.
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