When demand is _____,a rise in price leads to a(n)_____ in total revenue.
A)perfectly inelastic;decrease
B)perfectly elastic;increase
C)inelastic;increase
D)elastic;increase

Question

Quizplus · Accepted Answer

When demand is inelastic, a rise in price leads to an increase in total revenue because the percentage decrease in quantity demanded is less than the percentage increase in price, resulting in higher overall revenue.

When Demand Is _____,A Rise in Price Leads to A(n)_____

When Demand Is _,A Rise in Price Leads to A(n)_