If total revenue goes up when the price falls, demand is said to: be price unit-elastic. have positive price elasticity. be pric

Question

pishuonlain [190]

3 years ago

6

If total revenue goes up when the price falls, demand is said to: be price unit-elastic. have positive price elasticity. be pric

e-inelastic. be price-elastic.

Business

1 answer:

Sholpan [36] · Answer 1 · 2021-12-17T13:59:05+03:00

The answer to this item is letter <em>C. PRICE ELASTIC. </em>

The price elastic demand as stated in this given corresponds to the increase or rise in the total revenue when the price is brought down or decreased. This is indicated by the PED (price elasticity of demand).

The total revenue is calculated by multiplying the total items, good, or services sold by the unit price. For the demand which is price elastic, the decrease in the price will cause a higher raise in the number of customer vying for the products and services.