If a product's demand is elastic and there is a decrease in price, the effect will be:

D obviously 

Increase in total revenue 

If the demand is elastic, every price reduction will increase demand.  This will result in higher turnover assuming that the company markets the product and availability is enured.

Since the product’s demand is elastic, associated by to the decrease in the product’s price… this scenario will lead to an increase in demand end with incease in revenue as well …. So correct answer is D. 

Answer is D

The Concept of Elastic demand means that the demand for the product is high , price is the only constrain for the increase in demand . Taking a perfect example for GOLD where there is always a demand for the Yellow metal  the only constrain is price . The only option to increase the Revenue is drop in price where there is elastic demand . 

With the decrease in price of GOLD  , offcourse this will lead to surge in demand and whenever there is surge in demand there has to be an increase in REVENUE .- so the answer is " D " 

There will be an increase in total revenue. The answer is D

Answer :d

An increase in total revenue.

Option D is correct ..Since reduction in price will increase demand and ultimately increase revenue.

The answer id (d) An increase in total revenue.

Demand is inelastic if the relative change in the quantity required is less than the relative change in price and flexibility as a result  less than one 

This means that the decrease the price will lead to an increase in the quantity make revenue less than the  first total revenue

So the answer is  

a) A decrease in total revenue