18. price elasticity of demand on a straight inverse demand curve, change in price, effect on total revenue Starting at the midpoint of an inverse demand curve if a firm increases the selling price its total revenue will increase. a. True b. False If the price elasticity of demand for a good is -0.90, an increase in the price of that good will cause a decrease in the total revenue of the firm selling that good. a. True b. False17. influences on the price elasticity of demand Consider the automobile repair service industry. There are many competitors offering similar or identical services and they are often located near each other. Based on this information you would expect the price elasticity of demand to be greater than one (in absolute value). a. True b. False