Say you a kiosk where you sell T-shirts to other students.After conducting a quick survey you find that at the current price the price elasticity of demand for your T-shirts is inelastic.Knowing this, if you wanted to increase the total revenue from selling T-shirts you should:

Question

Quizplus · Accepted Answer

When demand is inelastic, increasing the price will lead to an increase in total revenue because the percentage decrease in quantity demanded is less than the percentage increase in price.

Say You a Kiosk Where You Sell T-Shirts to Other