If demand is relatively inelastic and sellers are able to raise the price of their...

Economics

JAMB 1992

If demand is relatively inelastic and sellers are able to raise the price of their commodity, then there we be a?

A. fall in both quantity of demand and total revenue
B. fall in the quantity demanded and rise in total revenue
C. fall in the quantity demanded and rise in marginal revenue
D. rise in both the quantity demanded and the marginal revenue

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Correct Answer: Option A

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If demand is relatively inelastic and sellers are able to raise the price of their...

Correct Answer: Option A

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