5 - In the following diagram shows a straight-line demand curve. In example B price moves from $1 to $2. What is the effect of raising price in this inelastic demand area? If demand is inelastic is raising price a good idea from the standpoint of the seller? (Meaning how does it affect revenue?)

$10 $10 $10 Demand Demand Gained revenue T Gained revenue ULLO NO Price Price C E Lost revenue Lou lou Gained revenue 3 H 2 Demand O 345 1 45 B 123 456 8 9 Quortity Quantity (a) Unit elastic [b) Inelastic (4) Elastic