When Demand Is Elastic,if We Were to Raise Price,total Revenue

question 106

Short Answer

When demand is elastic,if we were to raise price,total revenue would _______;when demand is inelastic,if we were to raise price,total revenue would ______.

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Definitions:

Temperature Rises

An increase in the average kinetic energy of the particles in a substance, leading to an increase in its temperature.

Pressure

The force exerted by the substance per unit area on another substance.

Temperature Increases

The rise in the measure of heat energy within a given environment, substance, or system, often leading to changes in physical state or chemical reaction rates.

Volume

The amount of space that an object or substance occupies.