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Figure 5-6 -Refer to Figure 5-6.If Price Increases from $10 to $15,total

Question 114

Multiple Choice

Figure 5-6
Figure 5-6 -Refer to Figure 5-6.If price increases from $10 to $15,total revenue will A) increase by $20, so demand must be inelastic in this price range. B) increase by $5, so demand must be inelastic in this price range. C) decrease by $20, so demand must be elastic in this price range. D) decrease by $10, so demand must be elastic in this price range.
-Refer to Figure 5-6.If price increases from $10 to $15,total revenue will

A) increase by $20, so demand must be inelastic in this price range.
B) increase by $5, so demand must be inelastic in this price range.
C) decrease by $20, so demand must be elastic in this price range.
D) decrease by $10, so demand must be elastic in this price range.

Correct Answer: