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If Demand Is Relatively Inelastic And Sellers Are Able To Raise The Price Of Their Commodity, Then There We Be A? - Erudites Academy

If demand is relatively inelastic and sellers are able to raise the price of their commodity, then there we be a?

by | Aug 7 | Economics WAEC | 0 comments

A. fall in both quantity of demand and total revenue
B. fall in the quantity demanded and rise in total revenue
C. fall in the quantity demanded and rise in marginal revenue
D. rise in both the quantity demanded and the marginal revenue

Correct Answer:

Option A – fall in both quantity of demand and total revenue

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