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The demand curve for your firm's product is linear

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The demand curve for your firm's product is linear. Based on recent sales data, you have determined that at the current price, the price elasticity of demand is 5.00.

1. Given this information, we can state that the current price is on the _____ half of the demand curve. (lower or upper)

2. In this case, if you want to increase total revenue, you should _____ your price. (decrease or increase)

3. This result is a move _____ along the demand curve. (upward or downward)

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