At a Price of $20, a Store Can Sell 24

Multiple Choice

At a price of $20, a store can sell 24 picture frames a day. At a price of $18 the store can sell 33 picture frames a day. Since total revenue ________ by the price decrease, demand must be ________.

A) is increased; elastic
B) is increased; inelastic
C) is increased; unit elastic
D) is decreased; elastic