Suppose the Price of a Good Is $5 and Quantity

question 29

Multiple Choice

Suppose the price of a good is $5 and quantity demanded is 10 units. When price increases to $6, quantity demanded decreases to 9 units. What happened to total revenue and what does this indicate?

• A) Total revenue decreased from $54 to $50, indicating that demand is inelastic.
• B) Total revenue decreased from $54 to $50, indicating that demand is elastic.
• C) Total revenue increased from $50 to $54, indicating that demand is inelastic.
• D) Total revenue increased from $50 to $54, indicating that demand is elastic.

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Definitions:

Lower Extremity

Refers to the lower part of the body, including the hips, thighs, legs, ankles, and feet.

Swollen and Warm

Describes tissues that are enlarged due to inflammation or fluid accumulation and feel warmer than the surrounding areas, indicating a potential infection or injury.

Orthopnea

Abnormal condition in which a person must sit or stand to breathe comfortably.

Pleural Friction Rub

Adventitious lung sound caused by inflamed parietal and visceral pleura rubbing together on inspiration.