When demand is elastic,a decrease in price will cause
A)an increase in total revenue.
B)a decrease in total revenue.
C)no change in total revenue but an increase in quantity demanded.
D)no change in total revenue but a decrease in quantity demanded.

Question

Quizplus · Accepted Answer

When demand is elastic, a decrease in price leads to a proportionally larger increase in quantity demanded, resulting in an increase in total revenue.

When Demand Is Elastic,a Decrease in Price Will Cause