The table below shows the price elasticity of demand for a good in the vicinity of seven different points along the demand curve for the good. In the vicinity of which of these points would a price decrease be accompanied by an increase in total revenue?Table 4.4: 
Definitions:
Prior Distribution
Probability distribution for a variable before adjusting for empirical evidence on its likely value.
Black-Litterman Model
A mathematical model for portfolio allocation that incorporates expected returns based on equilibrium, with adjustments from the investor's views.
Treynor-Black Model
A portfolio optimization model that combines the market portfolio with a portfolio of select active bets to maximize portfolio performance under certain conditions.
Security Analysis
The examination and evaluation of various factors affecting the value of securities to make investment recommendations.
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