When Demand Is Inelastic and Price Is Decreased

question 19

Multiple Choice

When demand is inelastic and price is decreased:

• A) the effect of the decrease in price on total revenue dominates the effect of the increase in quantity demanded on total revenue; overall total revenue declines.
• B) the effect of the increase in quantity demanded on total revenue dominates the effect of the decrease in price on total revenue; overall total revenue increases.
• C) the effects of the decrease in price on total revenue and the corresponding increase in quantity demanded on total revenue perfectly offset one another; overall total revenue remains unchanged.
• D) quantity demanded and total revenue fall to zero.

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