I've got an economics test tomorrow so I'm doing some multiple choice quizes on the textbooks website and for whatever reason, the guy is teaching us about price elasticity of demand by asking questions about how demand will change if the price of charlie and E increases.
Kinda strange but anyways kiddies:
The if the demand for cocaine is price inelastic and supply decreases. The dealer will:
1:see revenue increase
2:see revenue decrease
3:see no change in revenue
4:see demand decrease
?
