The Fontainebleau Hotel charges $19.60 for a glass of red wine. During a special event at the LIV nightclub (in the basement of the hotel), the hotel reduced the price to $15 per glass. The resulting quantity of red wine sold increased, but the total revenue from red wine sales decreased. Which of the following is true, ceteris paribus? [Select the correct answer]

a. The Fontainebleau Hotel should keep prices at $15.00 since this increases the amount of red wine sold; the $15.00 price is in the elastic region of the demand for red wine.

b. The Fontainebleau Hotel should keep prices at $15.00 since this increases the amount of red wine sold; the $15.00 price is in the inelastic region of the demand for red wine.

c. The Fontainebleau Hotel will never voluntarily drop prices to $15.00 since this reduces profits; the $15.00 price is in the elastic region of the demand for red wine.

d. The Fontainebleau Hotel will never voluntarily drop prices to $15.00 since this reduces profits; the $15.00 price is in the inelastic region of the demand for red wine.

e. None of the above.