If a 2 Percent Rise in Price Leads to a 4

Multiple Choice

If a 2 percent rise in price leads to a 4 percent decrease in quantity demanded, then demand is

A) elastic and total revenue decreases.
B) elastic and total revenue increases.
C) inelastic and total revenue decreases.
D) elastic, but we cannot tell what happens to total revenue without more information.
E) total revenue decreases but we cannot tell if the demand is elastic or inelastic without more information.