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
Explanation
Correct Option
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colikstan
3 years ago
For inelastic demand a rise a price will lead to net gain for the supplier
And a greater change in price will lead to less change in quantity demanded so
Fall in quantity demand and rise in income is the answer option B ✅
