Figure 5-1 -Refer to Figure 5-1.If the Price Decreased from $18 to Decreased

question 145

Multiple Choice

Figure 5-1

-Refer to Figure 5-1.If the price decreased from $18 to $6,what would happen to total revenue and what would this imply about demand elasticity

• A)Total revenue would increase by $1200 and demand would be elastic.
• B)Total revenue would increase by $800 and demand would be elastic.
• C)Total revenue would decrease by $1200 and demand would be inelastic.
• D)Total revenue would decrease by $800 and demand would be inelastic.

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