The demand for a good is elastic if A) an increase in its ...

[Sportsfan2111]

The demand for a good is elastic if
 
  A) an increase in its price results in an increase in total revenue.
  B) a decrease in its price results in a decrease in total revenue.
  C) an increase in its price results in a decrease in total revenue.
  D) the good is a necessity.

Question 2

In the table above, what price level belongs in space D?
 
  A) 125
  B) 130
  C) 140
  D) 145

[emilymalinowski12]

Answer to Question 1

C

Answer to Question 2

B

[Sportsfan2111]

Thanks for the timely response, appreciate it

[dyrone]

YES! Correct, THANKS for helping me on my review