The answer to this item is letter <em>C. PRICE ELASTIC. </em>
The price elastic demand as stated in this given corresponds to the increase or rise in the total revenue when the price is brought down or decreased. This is indicated by the PED (price elasticity of demand).
The total revenue is calculated by multiplying the total items, good, or services sold by the unit price. For the demand which is price elastic, the decrease in the price will cause a higher raise in the number of customer vying for the products and services.
Increase or shift right because if the cost of production goes down then the supplier can make more products for less money therefore making the supply of a good more. if there are more supplier then the same thing happens. more product in the market.
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