If demand is inelastic:
A) total revenue remains constant regardless of the price charged
B) an increase in price will increase total revenue
C) an increase in price will cause revenue to fall to zero
D) a decrease in price will increase total revenue

Question

Quizplus · Accepted Answer

When demand is inelastic, consumers are not very responsive to price changes, so an increase in price will lead to an increase in total revenue.

If Demand Is Inelastic