Figure: Elasticity and Total Revenue 
Refer to the figure. If price falls from $60 to $40, total revenue goes ________, so demand is ________.
A) down by $100; inelastic
B) down by $480; elastic
C) up by $360; inelastic
D) up by $120; elastic
Correct Answer:
Verified
Q21: If demand is inelastic, a price _
Q24: Total revenue is:
A) price × quantity.
B) quantity/price.
C)
Q33: Figure: Elasticity and Revenue Q36: When the demand curve for a good Q37: If the price elasticity of demand is Q38: If the price of Good Y falls Q39: The elasticity of demand for a good Q39: If the price elasticity of demand is Q41: Figure: Price Decrease and Elasticity Q42: If the demand for a good is
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