If an increase in the price of a good leads to an increase in total revenue,the _____ curve is price _____.
A)supply;inelastic
B)demand;inelastic
C)supply;elastic
D)demand;elastic

Question

Quizplus · Accepted Answer

When the price of a good increases and total revenue also increases, it indicates that the quantity demanded does not decrease significantly, which is characteristic of inelastic demand. This means consumers are relatively unresponsive to price changes.

If an Increase in the Price of a Good Leads