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Buying something when expect a price to increase

Buying since you expect a price to increase, at that point you will sell, which is termed as: (w) arbitration. (x) speculation. (y) profiteering. (z) arbitrage.

Hey friends please give your opinion for the problem of Economic that is given above.

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    Q : Maximum total revenue for elasticity of

    The elasticity of demand equals one and consumer spending upon Robot Butlers (there is the firm’s total revenue), is at a maximum at a price of as: (1) $20,000. (2) $15,000. (3) $10,000. (4) $5,000. (5) zero.

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