How are you going to increase your total revenue, if the demand of your product is inelastic? a. Increasing price b. Decreasing price c. changing price will not affect total revenue d. total revenue is increasing while the price changes

How are you going to increase your total revenue, if the demand of your product is inelastic? a. Increasing price b. Decreasing price c. changing price will not affect total revenue d. total revenue is increasing while the price changes

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter7: Demand And Supply

Section7.2: The Demand Curve And Elasticity Of Demand

Problem 1R

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Question

How are you going to increase your total revenue, if the demand of your product is inelastic?

a. Increasing price

b. Decreasing price

c. changing price will not affect total revenue

d. total revenue is increasing while the price changes

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