You Raised the Price of Your Good by 40% and the Quantity

Multiple Choice

You raised the price of your good by 40% and the quantity demanded declined by 40%. Demand is:

A) completely elastic and a decline in price would have yielded a total revenue decrease.
B) completely inelastic and a decline in price would have yielded a total revenue increase.
C) unitary elastic and a decline in price would have yielded no change in total revenue.
D) unitary elastic and a decline in price would have yielded a total revenue decrease.
E) elastic and a decline in price would have yielded a total revenue increase.