If the demand for a good is inelastic and the price of the good decreases, then...
If the demand for a good is inelastic and the price of the good decreases, then
a.total revenue increases.
b.total revenue decreases.
c.total revenue is not affected.
d.the direction of the change in total revenue cannot be determined from the information given.
Homework Answers
Whenever the demand for a good is inelastic that means its price of elasticity of demand is negative
Negative price elasticity of demand represents that there is a little change in in quantity demanded as a change in the price
Example of inelastic demand can be petrol water etc
According to question the price of the good is decreases that means quantity demand of it increases but not upto a very big extent because of inelastic in nature and ultimately it increases revenue
So tha answer is option A
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