Which of the following describes a situation in which demand must be inelastic?
a- total revenue decreases by 10 percent when the price of spats rises by 10 percent.
b- total revenue decreases by less than 10 percent when the price of spats rises by 10 percent.
c- total revenue increases by more than 10 percent when the price of spats rises by 10 percent.
d- total revenue decreases by $10 when the price of spats rises by $10.
e- total revenue decreases by more than $10 when the price of spats rises by $10.