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8.1 During the corona virus pandemic, some cafes found that when they increased the price of their more popular food items, the quantity demanded did

8.1 During the corona virus pandemic, some cafes found that when theyincreasedthe price of their more popular food items, the quantity demanded didNOTdecrease by very much.

Which of the following statement/s related to the cafes do you agree with? (Marks will be deducted for incorrect choices).

Select one or more:

a. Demand is Price Elastic

b. Revenue will Increase

c. Revenue will Decrease

d. Demand is Price Inelastic

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