Total revenue will increase if: Price increase, elastic product only if the demand is perfectly elastic. Price increase, inelastic product Price decrease, inelastic product

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Total revenue will increase if:
Price increase, elastic product
only if the demand is perfectly elastic.
Price increase, inelastic product
Price decrease, inelastic product
Transcribed Image Text:Total revenue will increase if: Price increase, elastic product only if the demand is perfectly elastic. Price increase, inelastic product Price decrease, inelastic product
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