Which statement is/are true?

A. If demand is elastic, a price increase will lower total revenue, and a decrease in price will raise total revenue

B. If demand is elastic, the relative change in quantity is larger than that of price, so a given percentage increase in price causes quantity to decrease by a larger percentage, decreasing total revenue

C. If demand is inelastic, a price increase will produce a less than proportionate decline in the quantity demanded

D. All of the above

Answer: Option D