Suppose Researchers at the University of Wisconsin Discover a New

question 26

Multiple Choice

Suppose researchers at the University of Wisconsin discover a new vitamin that increases the milk production of dairy cows. If the demand for milk is relatively inelastic, the discovery will

• A)raise both price and total revenues.
• B)lower both price and total revenues.
• C)raise price and lower total revenues.
• D)lower price and raise total revenues.

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