Question: I can't figure out an answer to this question that I'm confident with. I understand that if decreasing the price results in a revenue increase,

I can't figure out an answer to this question

I can't figure out an answer to this question that I'm confident with. I understand that if decreasing the price results in a revenue increase, that the good is somewhat elastic, but I don't understand where the number choices in the answer come from. I know that unit-elastic is 1 and perfectly inelastic is O but I can't determine how that applies here. ? If a business firm drops the prices of its product by 3 percent and the decision leads total revenue increase for the firm, then the price elasticity of demand of its customers for the product could possibly be PED-99 PED=1 PED=.78 ED-24 PED=2.4

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