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When demand is perfectly inelastic an increase in price will result...

This question belongs to Commerce Economics
Economics
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When demand is perfectly inelastic, an increase in price will result in

Answer & Solution
Correct Answer: Option B
When demand is perfectly inelastic, an increase in price will result in an increase in total revenue.
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4 Comments
Eldanb Biliz
Eldanb Biliz 3 years ago
This question holds good only for necessary goods and which have no substitutes like salt, medicine etc.
J. Gophal
J. Gophal 4 years ago
I wonder that option B would be incorrect. Because if change in quantity of commodity is zero then how revenue is likely to increase? Plz explain
BIJAYA ARKA
BIJAYA ARKA 6 years ago
Like necessities goods..ok
Ayushi Boyal
Ayushi Boyal 7 years ago
can someone give explanation for this question
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