Suppose That the Price Elasticity of Demand for Blueberries in the Saguenay

question 66

Multiple Choice

Suppose that the price elasticity of demand for blueberries in the Saguenay is 1.5.If climate change destroys one-fourth of the blueberry crop in this area,how will that affect total revenue for blueberry producers,all other things unchanged?

• A) Total revenue will rise.
• B) Total revenue will fall.
• C) Total revenue will remain unchanged.
• D) The information is insufficient to answer the question.

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