If the price of a good increases and the total revenue remains the same, the demand for the good is
A) elastic.
B) inelastic.
C) unit elastic.
D) perfectly elastic.

Question

Quizplus · Accepted Answer

When the price of a good increases and total revenue remains the same, it indicates that the percentage change in quantity demanded is equal to the percentage change in price, which is the definition of unit elastic demand.

If the Price of a Good Increases and the Total