Question

a. When demand is inelastic, an increase in price causes quantity demanded to ____ and TR to ____.

b. When demand is elastic, a decrease in price causes quantity demanded to ____ and TR to ____.

c. When demand is unitary elastic, an increase in price causes quantity demanded to ___ and TR to ____.

d. If the price falls and total revenue stays the same, demand must be _____.

e. If price rises and total revenue falls, demand must be _____.