(Figure: Price Decrease and Elasticity) Refer to the Figure

question 60

Multiple Choice

(Figure: Price Decrease and Elasticity) Refer to the figure. Ifprice decreases from $20 to $10, total revenue will:Figure: Price Decrease and Elasticity

• A)decrease by $1,500, so the demand curve is inelastic.
• B)decrease by $2,500, so the demand curve is inelastic.
• C)increase by $1,500, so the demand curve is elastic.(True Answer )Correct
• D)increase by $2,500, so the demand curve is elastic.

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