Multiple Choice
Figure 5-2
-Refer to Figure 5-2.If the price decreased from $18 to $6,
A) total revenue would increase by $1,200 and demand is elastic between points A and C.
B) total revenue would increase by $800 and demand is elastic between points A and C.
C) total revenue would decrease by $1,200 and demand is inelastic between points A and C.
D) total revenue would decrease by $800 and demand is inelastic between points A and C.
Correct Answer:
Verified
Correct Answer:
Verified
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