If a 2 Per Cent Rise in Price Leads to a 4

Multiple Choice

If a 2 per cent rise in price leads to a 4 per cent decrease in quantity demanded, then demand is

A) elastic and total revenue increases.
B) elastic, but we cannot tell what happens to total revenue without more information.
C) elastic and total revenue decreases.
D) inelastic and total revenue decreases.
E) Total revenue decreases but we cannot tell if the demand is elastic or inelastic without more information.