Choice "A" is correct. If demand is price elastic, an increase in price will result in a decline in total revenue (negative relationship).
Choice "d" is incorrect. When demand is price elastic, an increase in price results in a decline in quantity demanded that is proportionately larger than the increase in price, thus having the result of a decline in total revenue (price multiplied by quantity).
Choices "c" and "b" are incorrect, per the above statement.
