Demand for a given good is inelastic, so it follows that if price rises, __________ will rise, too.
A)quantity demanded
B)total revenue
C)total cost
D)income
E)supply

Question

Quizplus · Accepted Answer

When demand is inelastic, it means that the quantity demanded does not decrease significantly as the price increases. Therefore, if the price rises, total revenue (price multiplied by quantity sold) also rises because the decrease in quantity demanded is not enough to offset the increase in price.

Demand for a Given Good Is Inelastic, So It Follows