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Question
Use the above figure. When the price increases from $2 to $10, total revenue
A) increases from areas A + B to areas B + C and demand is inelastic.
B) increases from areas B + C to areas A + B and demand is inelastic.
C) increases from areas B + C to areas A + D and demand is elastic.
D) increases from areas C + D to areas B + A and demand is elastic.
Answer
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