Figure 5-6 20 Frice 18 16 + 14 12 10 84 D 8 10 12 14 16 Quantity Refer to Figure 5-6, which shows a demand curve with a vertical axis intercept of 16 and a slope of -1. (8, $8) is a marked coordinate on the curve. For prices above $8, demand is price elastic, and total revenue will rise as price rises. inelastic, and total revenue will rise as price rises. elastic, and total revenue will fall as price rises. inelastic, and total revenue will fall as price rises