Suppose that successive price reductions reduce total revenue. The supplier faces a demand curve that is, in this region:
A) price elastic.
B) unitary elastic.
C) infinitely price elastic.
D) of indeterminate elasticity.
E) price inelastic.
Since successive price reductions reduce total revenue, this means that ...
The expert examines demand curve elasticity and total revenues. The solution answers the question(s) below.