Business, 18.03.2020 23:36 Peachfarie93451

When demand is inelastic and price is decreased:

a. quantity demanded and total revenue fall to zero.

b. the effects of the decrease in price on total revenue and the corresponding increase in quantity demanded on total revenue perfectly offset one another; overall total revenue remains unchanged.

c. the effect of the decrease in price on total revenue dominates the effect of the increase in quantity demanded on total revenue; overall total revenue declines.

d. the effect of the increase in quantity demanded on total revenue dominates the effect of the decrease in price on total revenue; overall total revenue increases.

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When demand is inelastic and price is decreased:

a. quantity demanded and total revenue...