When demand is inelastic, an increase in price causes the seller's total revenues to:

Name: When demand is inelastic, an increase in price causes the seller's total revenues to:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When demand is inelastic, it means that the quantity demanded does not decrease significantly as the price increases. Therefore, an increase in price leads to an increase in total revenue because the decrease in quantity demanded is not enough to offset the higher price.

When Demand Is Inelastic, an Increase in Price Causes the Seller's