MAY 2025Foundation
If total revenue of goods increases with an increase in its price, demand for the goods is said to be:
A
(A) Elastic
B
(B) Unit elastic
C
(C) Inelastic
D
(D) Infinitely elastic
If total revenue of goods increases with an increase in its price, demand for the goods is said to be:
(A) Elastic
(B) Unit elastic
(C) Inelastic
(D) Infinitely elastic