If the demand is ________, a fall in price ________ total revenue.
A) elastic; increases
B) elastic; decreases
C) inelastic; increases
D) inelastic; does not change

Name: If the demand is ________, a fall in price ________ total revenue. A) elastic; increases B) elastic; decreases C) inelastic; increases D) inelastic; does not change
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Question

Quizplus · Accepted Answer

When demand is elastic, a decrease in price leads to a proportionally larger increase in quantity demanded, thus increasing total revenue.

If the Demand Is ________, a Fall in Price ________

If the Demand Is , a Fall in Price