Which of the following statements is true?
A) If the price of a good is raised and total revenue does not change, demand is perfectly elastic.
B) If the price of a good is lowered and total revenue increases, demand is inelastic.
C) If the price of a good is lowered and total revenue decreases, demand is elastic.
D) If the price of a good is raised and total revenue increases, demand is inelastic.
D
Economics