When demand is _____, a rise in price leads to a(n) _____ in total revenue.
A) perfectly inelastic; decrease
B) perfectly elastic; increase
C) inelastic; increase
D) elastic; decrease

Name: When demand is _____, a rise in price leads to a(n) _____ in total revenue. A) perfectly inelastic; decrease B) perfectly elastic; increase C) inelastic; increase D) elastic; decrease
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Question

Quizplus · Accepted Answer

When demand is inelastic, consumers are less sensitive to price changes, so a rise in price leads to an increase in total revenue.

When Demand Is _____, a Rise in Price Leads to A(n)