If a 20 percent decrease in the price of a good leads to a 15 percent increase i

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If a 20 percent decrease in the price of a good leads to a 15 percent increase i

If a 20 percent decrease in the price of a good leads to a 15 percent increase in the quantity demanded, then demand is ________ and total revenue will ________ as a result of the fall in price.
A) elastic; increase
B) elastic; decrease
C) inelastic; increase
D) inelastic; decrease

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Lauren1 Author

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9 years ago

Thank you, this really, really helps Heavy Heart

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MrDereche

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9 years ago

You're welcome!

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