If demand _____ and the University of Michigan increases the price of football tickets,revenues will increase.
A)is price-inelastic
B)is price-elastic
C)has price elasticity equal to 1
D)is perfectly price-elastic

Question

Quizplus · Accepted Answer

When demand is price-inelastic, it means that the quantity demanded does not decrease significantly as the price increases, so increasing the price of football tickets would lead to an increase in revenue.

If Demand _____ and the University of Michigan Increases the Price