When Demand Is Inelastic Within a Certain Price Range,then Within

question 224

Multiple Choice

When demand is inelastic within a certain price range,then within that price range,

• A) an increase in price would increase total revenue because the decrease in quantity demanded is proportionately less than the increase in price.
• B) an increase in price would decrease total revenue because the decrease in quantity demanded is proportionately greater than the increase in price.
• C) a decrease in price would increase total revenue because the increase in quantity demanded is proportionately smaller than the decrease in price.
• D) a decrease in price would not affect total revenue.

---

Definitions:

Due Date

The specified day by which an obligation must be fulfilled or a task completed.

Indorsement

A signature or stamp placed on a document that confirms and details the signing authority's approval of the document.

Warranty Liability

The legal obligation of a seller to compensate the buyer for defects or issues with a product or service that were guaranteed against in a warranty.

Good Faith

Conducting oneself with honesty and sincerity without intending to defraud or deceive others.