Completed 28 UULUI JU Suppose that an increase in the price of a good leads to an increase in total revenue. Ignori...

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Completed 28 UULUI JU Suppose that an increase in the price of a good leads to an increase in total revenue. Ignoring other f

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Option 4

When a good is price inelastic, the good does not have any substitutes and hence irrespective of price changes people would not reduce the consumption of good and hence the revenue does not decrease

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Completed 28 UULUI JU Suppose that an increase in the price of a good leads to an increase in total revenue. Ignori...

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Completed 28 UULUI JU Suppose that an increase in the price of a good leads to an increase in total revenue. Ignori...

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