52. When demand is perfectly inelastic, an increase in price will result in A. O A decrease in total revenue B. O An increase in total revenue No change in total revenue D. O A decrease in quantity demanded

52. When demand is perfectly inelastic, an increase in price will result in A. O A decrease in total revenue B. O An increase in total revenue No change in total revenue D. O A decrease in quantity demanded

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 17P: If a 10 decrease in the price of one product that you buy causes an 8 increase in quantity demanded...

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Equilibrium refers to a state of balance that comes about because there is equality in all forces.

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52. When demand is perfectly
inelastic, an increase in price will
result in
A. O A decrease in total revenue
B. O An increase in total revenue
C. O No change in total revenue
D. O A decrease in quantity demanded

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