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A decrease in price will result in an increase in total revenue if: (a) the percentage change in quantity demanded is less than the percentage change in price (b) the percentage change in quantity demanded is greater than the percentage change in price (c) demand is inelastic?
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A decrease in price will result in an increase in total revenue if: (a...
Option 'b' is the correct answer.
Suppose the price decreases by 10% and the quantity demanded increases by 20%...then definitely the total revenue will increase. Thus we can say that if the demand is elastic, then a decrease in price will result in an increase in totalrevenue.
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A decrease in price will result in an increase in total revenue if: (a...
B
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A decrease in price will result in an increase in total revenue if: (a) the percentage change in quantity demanded is less than the percentage change in price (b) the percentage change in quantity demanded is greater than the percentage change in price (c) demand is inelastic?
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A decrease in price will result in an increase in total revenue if: (a) the percentage change in quantity demanded is less than the percentage change in price (b) the percentage change in quantity demanded is greater than the percentage change in price (c) demand is inelastic? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A decrease in price will result in an increase in total revenue if: (a) the percentage change in quantity demanded is less than the percentage change in price (b) the percentage change in quantity demanded is greater than the percentage change in price (c) demand is inelastic? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A decrease in price will result in an increase in total revenue if: (a) the percentage change in quantity demanded is less than the percentage change in price (b) the percentage change in quantity demanded is greater than the percentage change in price (c) demand is inelastic?.
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