P Is in Dollars and Q Is the Number of Units

question 69

Multiple Choice

p is in dollars and q is the number of units. Find the elasticity of the demand function at , and use it to determine how a price increase will affect total revenue. ​

• A) Since the demand is elastic, an increase in price will decrease the total revenue.
• B) Since the demand is elastic, an increase in price will increase the total revenue.
• C) Since the demand is inelastic, an increase in price will decrease the total revenue.
• D) Since the demand is inelastic, an increase in price will increase the total revenue.
• E) No change in revenue.

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