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Theory of consumer behaviour — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsTheory of consumer behaviour1 Mark
Question
If demand is elastic, how will an increase in price affect the total revenue? Explain.
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Answer

If demand is elastic, an increase in price reduces the total revenue. In elastic demand, the quantity demanded falls by a greater percentage than the price rises; As the result of, total revenue declines.

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