As West Elm begins to further assess sensitivity to price ch…

As West Elm begins to further assess sensitivity to price changes, select the correct response for each statement below, which correctly describes the direction of revenue relative to price and demand elasticity. Read each choice very carefully and make your selection carefully. As price goes up and demand is relatively elastic, revenue [elasticity1]. As price goes up and demand is relatively inelastic, revenue [elasticity2]. As price goes down and demand is relatively inelastic, revenue [elasticity3]. As price goes down and demand is relatively elastic, revenue [elasticity4]. As price goes down and demand is “unitary elastic”, revenue [elasticity5].