If total revenue increases after a price increase, demand is:
A) perfectly elastic
B) unit elastic
C) inelastic
D) elastic

Name: If total revenue increases after a price increase, demand is: A) perfectly elastic B) unit elastic C) inelastic D) elastic
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Question

Quizplus · Accepted Answer

When total revenue increases after a price increase, it indicates that demand is inelastic, meaning consumers are not significantly reducing their quantity demanded despite the higher price.

If Total Revenue Increases After a Price Increase, Demand Is