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Elastic demand and Price rises

There are six condition given. Assuming only PRICE changes.
1. Elastic demand and Price rises.
2. Inelastic demand and Price rises.
3. Elastic demand and Price falls.
4. Inelastic demand and Price falls.
5. Unit elastic demand and Price rises.
6. Unit elastic demand and Price falls.
Which three should work for those three conditions?
1. Total Revenue Increases.
2. Total Revenue unchanged.
3. Total Revenue decreases.

Solution Preview

1. Elastic demand and Price rises.==> Total Revenue decreases.
<br>2. Inelastic demand and Price rises. ...

Solution Summary

Elastic demand and Price rises are studied.

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