If price and total revenue vary in opposite directions, demand is
A)perfectly inelastic.
B)perfectly elastic.
C)relatively inelastic.
D)relatively elastic.

Question

Quizplus · Accepted Answer

When price and total revenue move in opposite directions, it indicates that the demand is relatively elastic. This means that a small change in price leads to a larger percentage change in the quantity demanded.

If Price and Total Revenue Vary in Opposite Directions, Demand