Which of the Following Describes a Situation in Which Demand

Multiple Choice

Which of the following describes a situation in which demand must be elastic?

A) Total revenue increases by 15 percent when the price of corn dogs rises by 15 percent.
B) Total revenue increases by less than 15 percent when the price of corn dogs rises by 15 percent.
C) Total revenue decreases by more than 15 percent when the price of corn dogs rises by 15 percent.
D) Total revenue increases by $15 when the price of corn dogs rises by $15.