Please answer those question thanks

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 Gonad revenue Gained revenue Gained revenue revenge C 2 4 5 6 (a) Unit clastic (b) Inelastic (9 Elastic 6 - Imagine you are a business selling a very unique product with little competition that is very popular. How would you price your product? Considering that the demand is inelastic, would you sell it close to your cost plus a small mark-up, or would you try to raise its price to increase revenue? A - Indicate how you would price the product? B - Explain why you are the setting price at this level