If the Price Elasticity of Demand for Apples Is 0

question 155

Multiple Choice

If the price elasticity of demand for apples is 0.8,then a 2.4% increase in the price of apples will decrease the quantity demanded of apples by

• A)1.92%,and apples sellers' total revenue will increase as a result.
• B)1.92%,and apples sellers' total revenue will decrease as a result.
• C)3%,and apples sellers' total revenue will increase as a result.
• D)3%,and apples sellers' total revenue will decrease as a result.

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