Figure 5-10 -Refer to Figure 5-10.When Price Falls from $50 to $40,demand

Multiple Choice

Figure 5-10

-Refer to Figure 5-10.When price falls from $50 to $40,demand is

A) inelastic, since total revenue decreases from $8,000 to $5,000.
B) inelastic, since total revenue increases from $5,000 to $8,000.
C) elastic, since total revenue increases from $5,000 to $8,000.
D) unit elastic, since total revenue does not change.