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) If price is lower than P, an increase in price (but not above P) will result in:

A) a decrease in TR.
B) an increase in TR.
C) no change in TR.
D) none of the above, necessarily; it depends on the quantity sold.