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When the price of a service increases by 5% and the quantity demanded decreases by 5%, total revenue remains unchanged. True or False?

When the price of a service increases by 5% and the quantity demanded decreases by 5%, total revenue remains unchanged. True or False?
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When the price of a service increases by 5% and the quantity demanded decreases by 5%, total revenue remains unchanged. True or False?

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User Bmartin
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8.3k points

1 Answer

1 vote
True because supply and demand would still have the same ratio
answered
User GeoAstronaute
by
7.9k points
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