What is the effect on total revenue if demand is inelastic and price rises?Multiple ChoiceTotal revenue will fall.Total revenue will rise.Total revenue may rise or fall depending on the size of the price increase.Total revenue will stay the same.

How would the following changes in price affect total revenue? That is, would total revenue increase, decrease, or remain unchanged? a. Price falls and demand is inelastic:  b. Price rises and demand is elastic:  c. Price rises and supply is elastic:  d. Price rises and supply is inelastic:  e. Price rises and demand is inelastic:  f. Price falls and demand is elastic:  g. Price falls and demand is of unit elasticity:

When total revenue is increasing:Multiple Choicemarginal revenue may be either positive or negative.the demand curve is relatively inelastic.marginal revenue is positive.marginal revenue is negative

Following a price decrease, total revenue will:1 pointincrease if the demand is price inelastic.always increase.always decrease.increase if demand is price elastic.

How does a price decrease affect total revenue when demand is elastic? Total revenue decreases. Total revenue increases. Total revenue remains the same. The effect on total revenue cannot be determined.

If the price elasticity of demand for a product is unity, a decrease in price will:Multiple Choicehave no effect upon the amount purchased.increase the quantity demanded and increase total revenue.increase the quantity demanded, but decrease total revenue.increase the quantity demanded, but total revenue will be unchanged.