Figure: The Linear Demand Curve
(Figure: The Linear Demand Curve) Look again at the figure The Linear Demand Curve.If you currently sell scarves at $7 and you increase the price 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
Correct Answer:
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