1 If the elasticity of demand for a product is -0.2, the demand curve is relatively ________ and an increase in price will _______ total revenue.
Group of answer choices
a. steep; increase
b. flat; increase
2 If the elasticity of demand for a product is -2, the demand curve is relatively ________ and an increase in price will _______ total revenue.
Group of answer choices
a. steep; increase
b. flat; decrease
c. steep; decrease
d. flat; increase
e. flat; decrease
f. steep; decrease