Because of an Increase in the Price of Leather, the Price

question 2

Multiple Choice

Because of an increase in the price of leather, the price of a pair of women's dress shoes increased by 12 per cent. If the price elasticity of demand for women's dress shoes is 0.85, which of the following will happen?

• A) The number of pairs of women's dress shoes demanded will decrease by 10.2 per cent.
• B) Total expenditure on women's dress shoes will decrease.
• C) Total revenue from the sale of women's dress shoes will decrease.
• D) None of the above

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Definitions:

Tongue Out

A gesture where the tongue is stuck out of the mouth, which can be an expression of concentration, defiance, or playfulness.

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Not influenced, changed, or damaged by a particular event or situation.

Project Care

A program or initiative designed to provide assistance, support, or care for individuals or communities in need, often focusing on health, education, or welfare.

Abcedarian Project

An early childhood education intervention program starting in infancy and targeting children from low-income families to improve intellectual and social development.