Price Elasticity and Total Revenue
If a firm increases the price of a good and its total revenue decreases, which of the following must be true about the demand for that good?
A
The demand curve is upward sloping
B
The demand curve has shifted leftward
C
The demand is inelastic in this price range
D
The demand is elastic in this price range
Question Leaderboard
| Rank | |||||
|---|---|---|---|---|---|
| #1 | nisak4sh | 2 | 3 | 0m 00s | 190 |
| #2 | eftahsam | 2 | 2 | 0m 25s | 175 |
| #3 | myigitali15 | 1 | 1 | 0m 07s | 93 |
| #4 | jcbaird17 | 1 | 1 | 0m 09s | 91 |
| #5 | e11102akshara | 1 | 1 | 0m 12s | 88 |
| #6 | s568769 | 1 | 1 | 0m 18s | 82 |
| #7 | kelder.28 | 1 | 1 | 0m 24s | 76 |
| #8 | syoh | 1 | 1 | 0m 53s | 47 |
| #9 | vanessakruse1tennis | 0 | 1 | 0m 00s | -10 |
| #10 | lilliangubler | 0 | 1 | 0m 24s | -34 |
Items per page:
10
1 – 10 of 11