Use the Following to Answer Question

Use the following to answer question:
-(Figure: The Linear Demand Curve) Use Figure: The Linear Demand Curve.Suppose this is the demand curves for scarves in your scarf shop.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

Correct Answer:

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