A decrease in supply (shift to the left) will increase total revenue in that market if?

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Ademand is price elastic

Bsupply is price elastic

Csupply is price inelastic

Ddemand is price inelastic

Correct answer

D. demand is price inelastic

Explanation

The correct answer is demand is price inelastic.

A decrease in supply (shift to the left) will increase total revenue in that market if? - Answer and Explanation | Academy of Pakistan