The Price Elasticity of Demand for Lettuce Has Been Estimated

question 39

Essay

The price elasticity of demand for lettuce has been estimated to be 2.58.If an insect infestation destroys 10% of the nation's lettuce crop, how will that affect total revenue from lettuce, all other things unchanged?
A.Total revenue will remain unchanged.
B.Total revenue will fall.
C.Total revenue will rise.
D.Not enough information is given to answer the question.

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