Demand is inelastic,so it follows that if price rises,__________ will rise,too.
A) quantity demanded
B) total revenue
C) total cost
D) income
E) supply

Question

Quizplus · Accepted Answer

When demand is inelastic, a change in price will result in a proportionally smaller change in quantity demanded. Therefore, when the price rises, the total revenue will also rise due to the increase in price, since the decrease in quantity demanded will not be significant enough to offset the increase in price.

Demand Is Inelastic,so It Follows That If Price Rises,__________ Will