Yeinsen Cookies produces cookies famous for their unique flavors. The elasticity of demand for cookies is equal to 0.62 when the price is $4.20 per pound. If the price of cookies increases to $4.50 per pound, which of the following is most likely to happen?

a. The total revenue earned by the company will fall.
b. The total revenue earned by the company will rise.
c. The quantity demanded of the cookies will increase.
d. The quantity supplied of the cookies will decrease.

b