Figure 5-9 -Refer to Figure 5-9.A Decrease in Price from $15 to Price

Multiple Choice

Figure 5-9

-Refer to Figure 5-9.A decrease in price from $15 to $10 leads to a

A) decrease in total revenue of $10, so the price elasticity of demand is greater than 1 in this price range.
B) decrease in total revenue of $10, so the price elasticity of demand is less than 1 in this price range.
C) decrease in total revenue of $20, so the price elasticity of demand is less than 1 in this price range.
D) decrease in total revenue of $20, so demand is elastic in this price range.