If Demand Is Price Inelastic,then When Price Rises

question 84

Multiple Choice

If demand is price inelastic,then when price rises,

• A) total revenue will fall.
• B) total revenue will rise.
• C) total revenue will remain unchanged.
• D) total revenue may rise,fall,or remain unchanged.More information is need to determine the change in total revenue with certainty.

---

Definitions:

Kickstarter

A crowdfunding platform designed to help bring creative projects to life, where creators receive funding from the public in exchange for future rewards or experiences.

Foodbank

A non-profit organization that collects and distributes food to those who have difficulty purchasing enough to avoid hunger.

Initial Funds

The initial amount of capital or money that is invested or required to start a new business or project.

Government Funders

Organizations or bodies within the government that provide financial support or resources to various projects, initiatives, or entities.