-The Above Figure Shows the Demand Curve for Movie Rentals

question 392

Multiple Choice

-The above figure shows the demand curve for movie rentals from Redbox. If Redbox lowered its price from $4.00 to $3.50, then total revenue would ________ because demand is ________.

• A) decrease; elastic
• B) increase; elastic
• C) decrease; inelastic
• D) increase; inelastic

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