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Demand and Supply MCQs

When demand is perfectly inelastic, an increase in price will result in

September 27, 2022
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When demand is perfectly inelastic, an increase in price will result in

Q. When demand is perfectly inelastic, an increase in price will result in:

  1. A decrease in total revenue
  2. An increase in total revenue
  3. No change in total revenue
  4. A decrease in quantity demanded

Answer: An increase in total revenue

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