Other things the same, if a price change causes total revenue to change in the opposite direction, demand is perfectly inelastic.
Perfectly inelastic.is in which a small growth or lower in the charge of a product will don't have any effect on the amount that is demanded or furnished of that product. there's no elasticity of call for or deliver for the product. this may not often manifest in actual existence, however it's far used as a treasured monetary principle.
A test to determine elasticity of demand between any prices: demand is elastic if general sales movements within the opposite path as charge; it's miles inelastic while it actions in the equal route as rate; and it's far of unitary elasticity when it does not trade when fee changes.
If a demand curve is perfectly vertical (up and down) then we say it's far flawlessly inelastic. If the curve is not steep, however instead is shallow, then the best is said to be “elastic” or “extraordinarily elastic.” which means that a small alternate in the fee of the coolest could have a huge exchange in the amount demanded.
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