The maker of a particular breakfast cereal found that increasingthe price from $

The maker of a particular breakfast cereal found that increasingthe price from $3.00 to $3.25 per box had no impact on totalrevenue but increasing the price further to $3.50 reduced totalrevenue by 2%. Thus the demand for the cereal is:A)inelastic over the range $3.00 to $3.50B)elastic over the range $3.00 to $3.25 but not over the range$3.25 to $3.50C)unit elastic over the range $3.00 to $3.25 and elastic over therange $3.25 to $3.50D)unit elastic over the range $3.00 to $3.25 and inelastic over therange $3.25 to $3.50