Multiple Choice
Use the following to answer questions:
Figure: The Linear Demand Curve 
-(Figure: The Linear Demand Curve) Look at the figure The Linear Demand Curve. If you increase the price of your scarves from $7 to $8, your total revenue will _____, and you notice that your price elasticity of demand is _____.
A) increase; elastic
B) decrease; elastic
C) increase; inelastic
D) decrease; inelastic
Correct Answer:
Verified
Correct Answer:
Verified
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