Which of the Following Describes a Situation in Which Demand

question 28

Multiple Choice

Which of the following describes a situation in which demand must be inelastic?

• A) Total revenue decreases by 10 percent when the price of spats rises by 10 percent.
• B) Total revenue decreases by less than 10 percent when the price of spats rises by 10 percent.
• C) Total revenue increases by more than 10 percent when the price of spats rises by 10 percent.
• D) Total revenue decreases by $10 when the price of spats rises by $10.

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