Figure 7-13 -Refer to Figure 7-13. If Price Increases from $10 to from $10

Multiple Choice

Figure 7-13
-Refer to Figure 7-13. If price increases from $10 to $15, total revenue will

A) increase by $20, so demand must be inelastic in this price range.
B) increase by $5, so demand must be inelastic in this price range.
C) decrease by $20, so demand must be elastic in this price range.
D) decrease by $10, so demand must be elastic in this price range.