When price was 6,quantity demanded was 10.When price decreased to 5,quantity demanded increased to 13.Therefore,when price decreased,total revenue
A) decreased from 65 to 60, indicating that demand is inelastic.
B) decreased from 65 to 60, indicating that demand is elastic.
C) increased from 60 to 65, indicating that demand is inelastic.
D) increased from 60 to 65, indicating that demand is elastic.
Correct Answer:
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