(Figure: Market for Avocados) the Figure Shows the Market for Avocados

Multiple Choice

(Figure: Market for Avocados) The figure shows the market for avocados. Which of the following is correct about this market between points A and B?

A) The demand curve is elastic, and thus the seller loses revenue by raising price from $1.50 to $1.75.
B) The demand curve is elastic, and thus the seller gains revenue by raising price from $1.50 to $1.75.
C) The demand curve is inelastic, and thus the seller loses revenue by raising price from $1.50 to $1.75.
D) The demand curve is inelastic, and thus the seller gains revenue by raising price from $1.50 to $1.75.