When the demand for a product is perfectly inelastic, a price increase will result in

Q. When the demand for a product is perfectly inelastic, a price increase will result in __________.

  • A decrease in quantity demanded of the product
  • No change in the total income from a product
  • An increase in the total income from a product
  • A reduction in the total income from a product

Answer: An increase in the total income from a product

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