Multiple choice 8. When the total revenue is unchanged despite the change in price, demand is a) inelastic b) unitary elastic c) horizontal d) vertical 9. Which of the following would increase the total revenue of a firm? a) The demand is inelastic and the price decreases. b) The demand is inelastic and the price increases. c) The demand is elastic and the price increases. d) The demand is unitary elastic and the price is unchanged. 10. When the price elasticity of demand is 0.36, a decrease in price will a) increase total revenue b) decrease total revenue c) decrease the quantity demanded d) lead to no change in the quantity demanded