If the demand for insulin is inelastic, an increase in insulin prices

If the demand for insulin is inelastic, an increase in insulin prices

If the demand for insulin is inelastic, an increase in insulin prices leads toA)no change in total revenue for insulin makers.B)total revenue probably changes but we need more information about the change in totalexpenditures on insulin to determine if the total revenue rises, falls, or stays the same.C)first a decrease, then an increase in total revenue for insulin makers.D)more total revenue for insulin makers.E)less total revenue for insulin makersIf a 2 percent rise in price leads to a 4 percent decrease in quantity demanded, then demand isA)elastic and total revenue increases.B)inelastic and total revenue decreases.C)elastic and total revenue decreases.D)elastic, but we cannot tell what happens to total revenue without more information.E)Total revenue decreases but we cannot tell if the demand is elastic or inelastic without moreinformation.