Figure: Price Increase and Elasticity Refer to the Figure

question 164

Multiple Choice

Figure: Price Increase and Elasticity Refer to the figure. If price increases from $10 to $20, total revenue will:

• A) increase by $800 so the demand curve must be inelastic.
• B) increase by $100 so the demand curve must be inelastic.
• C) decrease by $800 so the demand curve must be elastic.
• D) decrease by $100 so the demand curve must be elastic.

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