Figure 5-5 -Refer to Figure 5-5.When Price Falls from $40 to $30,what

Multiple Choice

Figure 5-5

-Refer to Figure 5-5.When price falls from $40 to $30,what do we know about demand

A) It must be elastic since total revenue increases from $8000 to $9000.
B) It must be inelastic since total revenue increases from $8000 to $9000.
C) It must be inelastic since total revenue decreases from $9000 to $8000.
D) It must be elastic since total revenue decreases from $9000 to $8000.