If the price of good X rises and the demand for good X is inelastic, then the percentage fall in quantity demanded is __________ the percentage rise in price, and total revenue __________.
A)greater than; rises
B)less than; falls
C)equal to; remains constant
D)greater than; falls
E)none of the above

Question

Quizplus · Accepted Answer

The Answer of If the price of good X rises and the demand for good X is inelastic, then the percentage fall in quantity demanded is __________ the percentage rise in price, and total revenue __________.
A)greater than; rises
B)less than; falls
C)equal to; remains constant
D)greater than; falls
E)none of the above

If the Price of Good X Rises and the Demand