When Demand Is Perfectly Inelastic, an Increase in Price Will

question 99

Multiple Choice

When demand is perfectly inelastic, an increase in price will result in

• A) a decrease in total revenue.
• B) an increase in total revenue.
• C) no change in total revenue.
• D) a decrease in quantity demanded.
• E) an increase in quantity demanded.

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Definitions:

Sustainability Balanced Scorecard

A strategic planning and management system used to align business activities to the vision and strategy of the organization, emphasizing environmental and social sustainability.

Performance Targets

Performance targets are specific goals set by a business or project to measure progress or achievement within a certain timeframe.

Performance Metrics

Quantitative measures that are used to gauge an organization’s performance against its objectives.

Strategic Objectives

Goals set by an organization to guide its direction and achieve long-term success.