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If a firm raised its pricea and discovered that its toatl revenue fell, then the demand for its product is:______.
a. relatively inelastic.
b. perfectly inelastic.
c. income inferior.
d. relatively elastic.

Respuesta :

Answer:

Option d (Relatively elastic) would be the correct solution.

Explanation:

  • The demand for some of its commodities becomes relatively elastic, i.e. the price drop contributed to a large decrease or change in the number requested, thus lowering the overall sales.
  • It could be contrasted to other options for elasticity-comparatively inelastic, completely inelastic, perfectly elastic even elastic units.

All 3 other options are not connected to the hypothetical offered. So, the option here was the best one.

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