Suppose That Demand Is Inelastic Within a Certain Price Range

question 170

Multiple Choice

Suppose that demand is inelastic within a certain price range.For 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.

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