If the demand for electricity is inelastic, and the local utility wants to increase its total revenue, it should ________ its price.
A)lower
B)raise
C)not change
D)frequently change

Name: If the demand for electricity is inelastic, and the local utility wants to increase its total revenue, it should ________ its price. A)lower B)raise C)not change D)frequently change
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Question

Quizplus · Accepted Answer

When demand is inelastic, total revenue increases when price increases.

If the Demand for Electricity Is Inelastic, and the Local