If Demand for a Product Is Perfectly Inelastic, a Change

question 115

True/False

If demand for a product is perfectly inelastic, a change in price will not change total revenue.

---

Definitions:

Radio

The technology of transmitting signals, voice, and music by modulating electromagnetic waves without wires.

Satellite

An object that has been intentionally placed into orbit around the Earth or another celestial body.

Microwave

A type of electromagnetic radiation with wavelengths ranging from one meter to one millimeter; used in a variety of technologies, including microwave ovens that heat food.

Fiber

Fiber, in the context of telecommunications, refers to fiber optic technology, which uses threads of glass or plastic to transmit data via pulses of light, offering high-speed Internet access.