Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
Promoted
if price elasticity of demand is -1.62 what happens to revenue if price rises?
rises, falls, falls by 162%, or rises by 1.62% ??
2 Answers
Relevance
- Knight_SaysLv 510 years agoFavorite Answer
Falls providing the commodity is not cigarettes or other essential necessity
- Anonymous10 years ago
It will reduce total revenue,because the demand is elastic.The price increase will be less than the quantity decreases.It cannot be said how many % it will decline,because you have not given us the exact percentage of price rise.
Still have questions? Get your answers by asking now.