When the price of good A is $50, the total revenue is for good A is $25,000 units. When the price of good A rises to $70, the total revenue of good A is $28,000 units. Using the midpoint method, the price elasticity of demand for good A is

a. 1.50, and an increase in price will result in an increase in total revenue for good A.

b. 0.34, and an increase in price will result in an increase in total revenue for good A.

c. 0.67, and an increase in price will result in an increase in total revenue for good A.

d. 2.94, and an increase in price will result in an increase in total revenue for good A.