If demand is inelastic, a change in the price

Q. If demand is inelastic, a change in the price:

  1. Will change the quantity in same direction
  2. Will change total revenue in same direction
  3. Will change total revenue in the opposite direction
  4. Will not change quantity

Answer: Will change total revenue in same direction

We will be happy to hear your thoughts

Leave a reply

Gkseries.com
Logo
Register New Account