When the firm faces an inelastic demand curve
Easy questions.
Question description
Fill in the blanks:
A. When the firm faces an inelastic demand curve (Like on a hot day for Coca Cola and at peak rush hour for Uber), and the firm increase its prices, their revenues will _____________increase/ decrease
B. When the firm faces an Elastic demand curve (Like on a cold day for Coca Cola and at non-peak rush hour for Uber),and the firm increases its prices, their revenues will _____________increase/ decrease\
