If demand is price inelastic,then when price rises,total revenue
A)will fall.
B)will rise.
C)will remain unchanged.
D)may rise,fall,or remain unchanged.More information is need to determine the change in total revenue with certainty.

Question

Quizplus · Accepted Answer

When demand is price inelastic, consumers are not very responsive to price changes, so an increase in price leads to an increase in total revenue.

If Demand Is Price Inelastic,then When Price Rises,total Revenue