If the price of an item increases from $31 to $33, then the quantity demanded (in thousands) decreases from 860 to 832 units.

A. The approximate price demand elasticity for this scenario is? Preview Question 6 Part 1 of 3   (nearest 0.1)

B. At this price, $31, we would say the demand is Select an answer Inelastic Elastic Unitary

C. Based on this, to increase revenue the price should be Select an answer raised lowered keep unchanged