Suppose the Price Elasticity of Demand for Blueberries Is 1

question 133

Multiple Choice

Suppose the price elasticity of demand for blueberries is 1.5.If climate change destroys one-fourth of the nation's blueberry crop,how will that affect total revenue for blueberry producers,all other things unchanged?

• A)Total revenue will rise.
• B)Total revenue will fall.
• C)Total revenue will remain unchanged.
• D)The information is insufficient to answer the question.

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