Which of the following describes a situation in which demand must be inelastic?

a - Total revenue decreases by 10 percent when the price of spats rises by 10 percent.

b - Total revenue decreases by less than 10 percent when the price of spats rises by 10 percent.

c - Total revenue increases by more than 10 percent when the price of spats rises by 10 percent.

d - Total revenue decreases by $10 when the price of spats rises by $10.

e - Total revenue decreases by more than $10 when the price of spats rises by $10.

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25 June, 22:49

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Haley Elliott · Answer 1

B total revenue decrease by 10 percent when the prices of spat rises by 10 percent