Can you please explain as to how the ans for this question is option a) and not option c)? What will be the answer for this question incase elastic demand is asked?
Dear Student
Ans - a) Rises
as the demand is inelastic so at the higher price too quantity demanded will rarely change and the revenue increases.
Regards
Ans - a) Rises
as the demand is inelastic so at the higher price too quantity demanded will rarely change and the revenue increases.
Regards