if the price of an iphone were to fall by 5% and apples total revenue were to increase dramatically, what…

if the price of an iphone were to fall by 5% and apples total revenue were to increase dramatically, what can be determined about iphones ped?\no ped is relatively elastic\no ped is relatively inelastic\no ped is perfectly inelastic\no ped is perfectly elastic

if the price of an iphone were to fall by 5% and apples total revenue were to increase dramatically, what can be determined about iphones ped?\no ped is relatively elastic\no ped is relatively inelastic\no ped is perfectly inelastic\no ped is perfectly elastic

Answer

Answer:

PED is relatively elastic