If the price elasticity of demand of Jada's wigs is 1.5 and price is currently \( \$ 200 \) per wig, is Jada maximizing her total revenue?
Yes, Jada is maximizing total revenue since price elasticity is greater than 1 .
Yes, Jada is maximizing total revenue since the price is over 100 times the price elasticity.
No, Jada is not maximizing total revenue; to do so, Jada need to increase the price.
No, Jada is not maximizing total revenue; to do so, Jada need to decrease the price.