1)Along a straight-line demand curve, total revenue reaches a maximum in the range where A

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1)Along a straight-line demand curve, total revenue reaches a maximum in the range where

A. demand is elastic.

B. demand is inelastic.

C. demand is unitary elastic.

D. supply is elastic.

E. supply is inelastic.

2)

If the price of a good decreases by 5 percent and total revenue does not change, then the price elasticity of demand is

A. equal to 0.05.

B. perfectly elastic.

C. perfectly inelastic.

D. equal to 1.05.

E. unit-elastic.