If the supply of a good decreases and it causes total revenue to increase, this shows that the good has an A) elastic supply. B) inelastic demand. C) elastic demand. D) inelastic supply.

Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter7: Demand And Supply
Section7.2: The Demand Curve And Elasticity Of Demand
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If the supply of a good decreases and it causes total revenue to increase, this shows
that the good has an
A) elastic supply.
B) inelastic demand.
C) elastic demand.
D) inelastic supply.
Transcribed Image Text:If the supply of a good decreases and it causes total revenue to increase, this shows that the good has an A) elastic supply. B) inelastic demand. C) elastic demand. D) inelastic supply.
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