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-The Above Figure Shows the Demand Curve for Movie Rentals

Question 187

Multiple Choice

-The above figure shows the demand curve for movie rentals from Redbox. If Redbox lowered its price from $1.50 to $1.00, then total revenue would ________ because demand is ________. A) decrease; elastic B) increase; elastic C) decrease; inelastic D) increase; inelastic
-The above figure shows the demand curve for movie rentals from Redbox. If Redbox lowered its price from $1.50 to $1.00, then total revenue would ________ because demand is ________.


A) decrease; elastic
B) increase; elastic
C) decrease; inelastic
D) increase; inelastic

Correct Answer:

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