-The above table gives the demand schedule for Billy Bob's BBQ ribs. An increase in the price of a pound of ribs will lead to a decrease in total revenue when
A) demand is inelastic.
B) the demand curve is vertical.
C) the price increase occurs over the price range of 0 to $5.
D) the price increase occurs over the price range of $5 to $10.

Question

-The above table gives the demand schedule for Billy Bob's BBQ ribs. An increase in the price of a pound of ribs will lead to a decrease in total revenue when
A) demand is inelastic. 
B) the demand curve is vertical. 
C) the price increase occurs over the price range of 0 to $5. 
D) the price increase occurs over the price range of $5 to $10.

Quizplus · Accepted Answer

When the price increase occurs over the price range of $5 to $10, demand is likely elastic, meaning that the percentage decrease in quantity demanded is greater than the percentage increase in price, leading to a decrease in total revenue.

-The Above Table Gives the Demand Schedule for Billy Bob's