Question

When demand is perfectly inelastic, an increase in price will result in: a. A. decrease in total revenue
b.   An increase in total revenue
c.   NO change in total revenue
d.  A decrease in quantity demanded
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Answer 1

Answer:

b.   An increase in total revenue

Explanation:

This is because When demand is perfectly inelastic, an increase in price will result to increase in total revenue

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