Assume the price of a good is $1 and total revenue is $200. If the price of the same good increases to $2 and total revenue increases to $400, you know that the demand for the product is
A) elastic.
B) inelastic.
C) unitary.
D) perfectly inelastic.

Question

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The Answer of Assume the price of a good is $1 and total revenue is $200. If the price of the same good increases to $2 and total revenue increases to $400, you know that the demand for the product is
A) elastic.
B) inelastic.
C) unitary.
D) perfectly inelastic.

Assume the Price of a Good Is $1 and Total