If the demand for a good is price inelastic and the good price is increased,then the marginal revenue (MR)received by the seller will
A)not change.
B)decrease.
C)increase.
D)Cannot be determined from this information

Question

Quizplus · Accepted Answer

When demand is price inelastic, an increase in price leads to a less than proportionate decrease in quantity demanded, resulting in an increase in total revenue. Since marginal revenue is the change in total revenue from selling one more unit, it will increase as well.

If the Demand for a Good Is Price Inelastic and the Good