If the Elasticity of Demand for Tongue Depressors Is 0

question 128

Multiple Choice

If the elasticity of demand for tongue depressors is 0.5,

• A)a 10% rise in the price of tongue depressors will lower quantity demanded by 50%.
• B)an increase in the price of tongue depressors will lower total revenue for sellers.
• C)a 10% increase in the price of tongue depressors will not change its total revenue.
• D)a 10% fall in the price of tongue depressors will raise quantity demanded by 5%.

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