Suppose a firm cannot figure out whether the demand for the good it sells is elastic or

Question:

Suppose a firm cannot figure out whether the demand for the good it sells is elastic or inelastic but discovers that every time it raises its price, its total revenue declines. Their

A. Demand is unit elastic

BDemand is elastic

C. Demand is inelastic

D. Demand is perfectly inelastic

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: