When price = $16, quantity demanded = 200. When price = $14, quantity demanded = 225. When the firm lowered price from $16 to $14, it discovered that demand is __________ and total revenue __________ by ____________,
A)elastic; increased; $3,200
B)elastic; decreased; $3,150
C)inelastic; increased; $50
D)inelastic; decreased; $50
E)inelastic; decreased; $3,150

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The Answer of When price = $16, quantity demanded = 200. When price = $14, quantity demanded = 225. When the firm lowered price from $16 to $14, it discovered that demand is __________ and total revenue __________ by ____________,
A)elastic; increased; $3,200
B)elastic; decreased; $3,150
C)inelastic; increased; $50
D)inelastic; decreased; $50
E)inelastic; decreased; $3,150

When Price = $16, Quantity Demanded = 200