If a Liquor Store Owner Decides That Raising the Price

question 75

Multiple Choice

If a liquor store owner decides that raising the price of beer can pay for the construction of a new building, then the owner is assuming that the

• A) percentage increase in the price of beer will cause a smaller percentage decrease in the quantity demanded.
• B) percentage increase in the price of beer will cause a greater percentage decrease in the quantity demanded.
• C) demand for his or her beer is elastic.
• D) percentage increase in the price of beer will cause an equal percentage decrease in the quantity demanded.
• E) demand for beer is unit elastic.

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