Answer:
B
Step-by-step explanation:
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes
If demand is elastic and price is decreased, the quantity demanded would increase more than the change in price. As a result, revenue would increase