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4. Elasticity - Part 1 of 2!
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Problem 15
4. Elasticity - Part 1 of 2!
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4. Elasticity / Total Revenue Test / Problem 8
Problem 8
A company raises the price of its product, and total revenue decreases. What can be concluded about the elasticity of demand?
A
Demand is elastic
B
Demand elasticity cannot be determined
C
Demand is inelastic
D
Demand is unit elastic
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