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QUESTION
if a 2 percent rise in price leads to a 4 percent decrease in quantity demanded, then demand is a. inelastic and the total revenue decreases b....
if a 2 percent rise in price leads to a 4 percent decrease in quantity demanded, then demand isa. inelastic and the total revenue decreasesb. elastic and the total revenue increasesc. elastic and the total revenue decreasesd. elastic, but we cannot tell what happens to total revenue without more informatione. total revenue decreases but we cannot tell if the demand is elastic or inelastic without more information
