In the _______ range of demand, total revenue _______ with an increase in price.
A) elastic; increases
B) elastic; does not change
C) inelastic; increases
D) inelastic; does not change

Question

Quizplus · Accepted Answer

In the inelastic range of demand, total revenue increases with an increase in price because the percentage change in quantity demanded is less than the percentage change in price, leading to an overall increase in total revenue.

In the _______ Range of Demand, Total Revenue _______ with an Increase

In the _ Range of Demand, Total Revenue _ with an Increase