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

Question

Quizplus · Accepted Answer

In the elastic range of demand, consumers are more sensitive to price changes, leading to decreases in total revenue with a price increase.

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

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