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Alexis LaShay Potter
on Oct 26, 2024

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If a change in price causes total revenue to change in the same direction,we can conclude that the demand is:

A) price inelastic.
B) price elastic.
C) price unit-elastic.
D) zero elastic.

Price Elastic

A term describing how responsive the demand for a good is to a change in its price.

Total Revenue

The total amount of money generated by a business from the sale of its goods or services before any costs or expenses are deducted.

  • Clarify the differences among elastic, inelastic, and unit-elastic demand.
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BG
Brianna guntherOct 30, 2024
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