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AP® Microeconomics

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Moderate

Elasticity of Demand: Total Revenue Test

APMICR-SYRKOR

If total gate receipts for sales of concert tickets decrease when the price is increased,

A

the demand for the tickets is elastic.

B

the demand for the tickets is unit elastic.

C

the demand for the tickets is inelastic.

D

the supply of the tickets is elastic.

E

the supply of the tickets is inelastic.