Answer to Question #225961 in Microeconomics for Tia

Question #225961

A rise in the price of a product lowers the total revenue from the product if the


good is an inferior product.


demand for the product is inelastic.


demand for the product is elastic.


income elasticity of demand exceeds 1.


1
Expert's answer
2021-08-16T16:40:09-0400

Demand for the product is inelastic.


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