Other things the same, if a price change causes total revenue to change in the opposite direction, demand is
A)perfectly inelastic.
B)relatively elastic.
C)relatively inelastic.
D)of unit elasticity.

Question

Quizplus · Accepted Answer

When a price change causes total revenue to change in the opposite direction, it indicates that the percentage change in quantity demanded is greater than the percentage change in price, which is a characteristic of relatively elastic demand.

Other Things the Same, If a Price Change Causes Total