Math Problem Statement

The portion of the graph in which a increase in price would cause total revenue to rise would be from

Hint: Identify the portion where the demand is inelastic or elastic and then decide on how the total revenue would change based on this price increase

Group of answer choices

A to B because that is the elastic part of the curve

B to C because it is the elastic part of the curve

A to B because it is the inelastic part of the curve

B to C because it is the inelastic part of the curve

Solution

Ask a new question for Free

By Image

Drop file here or Click Here to upload

Math Problem Analysis

Mathematical Concepts

Price Elasticity of Demand
Total Revenue
Inelastic and Elastic Demand

Formulas

Elasticity of Demand = % Change in Quantity / % Change in Price

Theorems

Law of Demand
Total Revenue Test

Suitable Grade Level

Grades 9-12