When the price of a good goes up, quantity demanded will always go down, but total revenue could go up, go down, or stay the same.

Question

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The law of demand states that, ceteris paribus, when the price of a good rises, the quantity demanded will fall. However, the effect on total revenue (price multiplied by quantity sold) depends on the price elasticity of demand for the good. If demand is inelastic, total revenue could increase; if it's elastic, total revenue could decrease; and if it's unit elastic, total revenue could stay the same.

When the Price of a Good Goes Up, Quantity Demanded