Use the following to answer questions:
Figure: The Linear Demand Curve
-(Figure: The Linear Demand Curve) Look at the figure The Linear Demand Curve. If you increase the price of your scarves from $7 to $8, your total revenue will _____, and you notice that your price elasticity of demand is _____.
A) increase; elastic
B) decrease; elastic
C) increase; inelastic
D) decrease; inelastic

Question

Use the following to answer questions:
Figure: The Linear Demand Curve 
-(Figure: The Linear Demand Curve) Look at the figure The Linear Demand Curve. If you increase the price of your scarves from $7 to $8, your total revenue will _____, and you notice that your price elasticity of demand is _____.
A) increase; elastic 
B) decrease; elastic 
C) increase; inelastic 
D) decrease; inelastic

Quizplus · Accepted Answer

The Answer of Use the following to answer questions:
Figure: The Linear Demand Curve 
-(Figure: The Linear Demand Curve) Look at the figure The Linear Demand Curve. If you increase the price of your scarves from $7 to $8, your total revenue will _____, and you notice that your price elasticity of demand is _____.
A) increase; elastic 
B) decrease; elastic 
C) increase; inelastic 
D) decrease; inelastic

Use the Following to Answer Questions