# Product cost sets the lower limits of the price, the utility provided by the product and the

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Product cost sets the lower limits of the price, the utility provided by the product and the intensity of demand of the buyers sets the upper limit. So, in case of inelastic demand, total revenue ………………when price increases

(a) Rises

(b) Falls

(c) Constant

(d) Both (a) and (b)

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