-The above figure shows the demand curve for movie rentals from Redbox. If Redbox lowered its price from $2.00 to $1.50, then total revenue would ________ because demand is ________.
A) decrease; elastic
B) increase; elastic
C) decrease; inelastic
D) increase; inelastic

Question

-The above figure shows the demand curve for movie rentals from Redbox. If Redbox lowered its price from $2.00 to $1.50, then total revenue would ________ because demand is ________.
A) decrease; elastic 
B) increase; elastic 
C) decrease; inelastic 
D) increase; inelastic

Quizplus · Accepted Answer

The Answer of 
-The above figure shows the demand curve for movie rentals from Redbox. If Redbox lowered its price from $2.00 to $1.50, then total revenue would ________ because demand is ________.
A) decrease; elastic 
B) increase; elastic 
C) decrease; inelastic 
D) increase; inelastic

-The Above Figure Shows the Demand Curve for Movie Rentals