QUESTION 9 If the demand for coffee beans is inelastic, then a rise in the price of those beans will cause the coffee farmers' total revenues to rise. True False

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter6: Consumer Choices
Section: Chapter Questions
Problem 17P: If a 10 decrease in the price of one product that you buy causes an 8 increase in quantity demanded...
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QUESTION 9
If the demand for coffee beans is inelastic, then a rise in the price of those beans will cause the coffee farmers' total revenues to rise.
True
O False
Transcribed Image Text:QUESTION 9 If the demand for coffee beans is inelastic, then a rise in the price of those beans will cause the coffee farmers' total revenues to rise. True O False
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