9. Price elasticity of demand for artichokes is -0.4. Suppose that the price of artichokes is increased slightly from $10. The number of artichokes sold will and the revenue will a. rise, rise b. rise, fall c. fall, rise d. fall, fall 10. Figure 2 below shows the cost and demand curves for a profit-maximizing firm in a perfectly competitive market. Price and cost $40.50 36.00 30.00 MR 22.00 20.00 130 180 240 Quantity Refer to Figure 2. If the market price is $30 and the firm is producing output, what is the amount of the firm's profit or loss? a. loss of $1,080 b. profit of $1,440 c. loss of $2,520 d. profit of $1,300