(Figure: Price Decrease and Elasticity) Refer to the Figure

Multiple Choice

(Figure: Price Decrease and Elasticity) Refer to the figure. Ifprice decreases from $20 to $10, total revenue will:Figure: Price Decrease and Elasticity

A) decrease by $1,500, so the demand curve is inelastic.
B) decrease by $2,500, so the demand curve is inelastic.
C) increase by $1,500, so the demand curve is elastic.(True Answer ) Correct
D) increase by $2,500, so the demand curve is elastic.