When demand is inelastic, a decrease in price will cause? a. an increase in total revenue. b. a decrease in total revenue. c. no change in total revenue. d. There is insufficient information to answer this question.

Question

05-12-2022
Business

Answered

Find the best solutions to your questions at Westonci.ca, the premier Q&A platform with a community of knowledgeable experts. Explore in-depth answers to your questions from a knowledgeable community of experts across different fields. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.

When demand is inelastic, a decrease in price will cause? a. an increase in total revenue. b. a decrease in total revenue. c. no change in total revenue. d. There is insufficient information to answer this question.

Sagot :

We appreciate your time. Please come back anytime for the latest information and answers to your questions. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.

how did the londan underground railway become a huge sucess?explain?

An eruption is classified as an explosive volcanic eruption based on the amount of which mineral found in the magma?

Assume that the sales of a computer retail store are approximated by a linear function. Sales were $990,000 in 1983 and $2,830,000 in 1988. Let x=0 represent 19

1. x=1/(root3-root2). find rootx-(1/rootx) 2. if x=[root(a+2b)+root(a-2b)]/[root(a+2b)-root(a-2b]. show that bx^2-ax+b=0

if x= 1/2-√3 , prove that x³-2x²-7x+5=3

An eruption is classified as an explosive volcanic eruption based on the amount of which mineral found in the magma?

A student investigated how the pressure in a diving pool varied with depth. He filled a balloon with helium and tied it to the end of a long pole. Then he subm

During a science experiment, Peter found the temperature of a certain liquid to be −a∘ Centigrade after he had raised the temperature by x degrees.Write an expr

T varies with the cube of w. When w is 3, T is 1/9.Find the value of w when T is 1/243.I don't understand any Variations!

An athlete with a high count of red blood cells will perform well in tests of physical endurance because (a) waste products will be removed from the body easily

akursharma9034 akursharma9034 · Answer 1 · 2022-12-09T07:56:34-05:00

When demand is inelastic, a decrease in price will cause an increase in total revenue.

a drop in overall revenue. Demand will not vary in response to a change in the product's price if the price elasticity of demand is inelastic. The total income of the company will decrease if the price of the good decreases without the quantity demanded changing. If the price of an inelastic good is decreased, the demand for that good does not rise, resulting in less overall revenue due to the lower price and unchanged demand. This would suggest that the company shouldn't lower the price of its items because doing so wouldn't have any positive effects.

Learn more about demand from

brainly.com/question/1245771

#SPJ4

When demand is inelastic, a decrease in price will cause? a. an increase in total revenue. b. a decrease in total revenue. c. no change in total revenue. d. There is insufficient information to answer this question.

Sagot :

Other Questions