Suppose the price elasticity of demand for the market of mobile phones is 0.90.

a.If all mobile-phone companies simultaneously increased their prices, will total revenue in the industry increase or decrease? (1 mark)
b.If a single mobile-phone company increased its price, would you expect the company’s total revenue to increase or decrease? Explain. (2 marks)
c.Suppose that the price in the market is initially $10 and the quantity demanded is 100 units. If the price in this market increases by 10%, what will be the percentage change in the quantity demanded? (2 marks)