If the local electricity utility wants to raise revenues,it should _______ its price because demand for electricity is likely to be ________.
A)lower;inelastic
B)raise;elastic
C)lower;elastic
D)raise;inelastic

Name: If the local electricity utility wants to raise revenues,it should _______ its price because demand for electricity is likely to be ________. A)lower;inelastic B)raise;elastic C)lower;elastic D)raise;inelastic
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Question

Quizplus · Accepted Answer

Total revenues increase when price increases when demand is inelastic.

If the Local Electricity Utility Wants to Raise Revenues,it Should