Refer to the Accompanying Table

question 5

Multiple Choice

Refer to the accompanying table.The price elasticity of demand of erasers is __________ when the price is lowered from $1.50 to $1.00.Sellers of erasers will __________ their total revenue from this price change.

• A)perfectly elastic; not change
• B)elastic; raise
• C)elastic; lower
• D)inelastic; lower
• E)inelastic; raise

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Definitions:

Oral Contraceptives

Birth control pills that prevent pregnancy by inhibiting ovulation, taken orally.

Nursing Mothers

Women who are breastfeeding their infants, providing them with nutrients and antibodies through breast milk.

Contraceptive Method

A means or technique used to prevent pregnancy as a result of sexual intercourse.