Figure 5-11 -Refer to Figure 5-11.A Decrease in Price from $20 to from $20

question 233

Multiple Choice

Figure 5-11
-Refer to Figure 5-11.A decrease in price from $20 to $10 leads to a

• A)decrease in total revenue of $200,so the price elasticity of demand is greater than 1 in this price range.
• B)decrease in total revenue of $200,so the price elasticity of demand is less than 1 in this price range.
• C)decrease in total revenue of $120,so the price elasticity of demand is less than 1 in this price range.
• D)decrease in total revenue of $120,so demand is elastic in this price range.