Use the Following to Answer Question(s): Demand, Elasticity, and Total

Multiple Choice

Use the following to answer question(s) : Demand, Elasticity, and Total Revenue

-(Exhibit: Demand, Elasticity, and Total Revenue) When price is P and quantity is Q in Panel (a) , which of the following is (are) true?

A) An increase in price will increase total revenue.
B) A decrease in price will increase total revenue.
C) P x Q is the maximum amount TR can be.
D) B and C are true.