The Figure Given Below Shows the Demand Curves for Five

question 65

Multiple Choice

The figure given below shows the demand curves for five products: A, B, C, D, and E.Figure 6.1

-If = -1.50 for a good, and price of the good decreases by 20 percent, then:

• A)quantity demanded will decrease by 30 percent.
• B)quantity demanded will increase by 30 percent.
• C)total revenue will remain unchanged.
• D)total revenue will decrease.
• E)quantity demanded will increase by 3 percent.

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