Which of the following statements is true?

A) If the price of a good is raised and total revenue does not change, demand is perfectly elastic.
B) If the price of a good is lowered and total revenue increases, demand is inelastic.
C) If the price of a good is lowered and total revenue decreases, demand is elastic.
D) If the price of a good is raised and total revenue increases, demand is inelastic.

D

Economics

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Individual income tax is the ________ single component of federal revenue

A) smallest B) least important C) second largest D) largest

Economics

Explain why current consumption is likely to respond less than one for one to changes in current income

What will be an ideal response?

Economics