In case the price of a product and the total revenue from that product move in the same direction, then the demand is

In case the price of a product and the total revenue from that product move in the same direction, then the demand is

Q. In case the price of a product and the total revenue from that product move in the same direction, then the demand is ____________.

  • Perfectly elastic
  • Inelastic
  • Elastic
  • Unrelated

Answer: Inelastic

Demand and Supply MCQs
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