Higher prices will increase total revenue

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Reference no: EM131240579

1. Higher prices will increase total revenue if

Demand is unitary elastic.

The price elasticity of demand is zero.

Demand is inelastic.

Demand is elastic.

2. The term transfer payments refers to

Federal income taxes.

Payments to individuals that are not in exchange for current goods and services being produced.

Additional profits transferred to monopolies as a result of their market power.

Money that is transferred between savings and checking accounts.

Reference no: EM131240579

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