When the Price of Good a Is $50,the Quantity Demanded

Multiple Choice

When the price of good A is $50,the quantity demanded of good A is 500 units.When the price of good A rises to $70,the quantity demanded of good A falls to 400 units.Using the midpoint method,

A) the price elasticity of demand for good A is 1.50,and an increase in price will result in an increase in total revenue for good A.
B) the price elasticity of demand for good A is 1.50,and an increase in price will result in a decrease in total revenue for good A.
C) the price elasticity of demand for good A is 0.67,and an increase in price will result in an increase in total revenue for good A.
D) the price elasticity of demand for good A is 0.67,and an increase in price will result in a decrease in total revenue for good A.