Refer to the Accompanying Table A) Perfectly Elastic; Not Change
B) Elastic; Raise
C) Elastic;

question 50

Multiple Choice

Refer to the accompanying table. The price elasticity of demand of erasers is when the price is lowered from $1.50 to $1.00. Sellers of erasers will their total revenue from this price change. $$\begin{array} { | l | c | c | } \hline \begin{array} { l } \text { Price of } \\\text { Erasers }\end{array} & \begin{array} { l } \text { Quantity } \\\text { Demanded of } \\\text { Erasers }\end{array} & \begin{array} { l } \text { Quantity } \\\text { Demanded of } \\\text { Pencils }\end{array} \\\hline \$ 0.50 & 10 & 12 \\\hline \$ 1.00 & 8 & 11 \\\hline \$ 1.50 & 7 & 10 \\\hline \$ 2.00 & 6 & 9 \\\hline \$ 2.50 & 5 & 8 \\\hline\end{array}$$

• A) perfectly elastic; not change
• B) elastic; raise
• C) elastic; lower
• D) inelastic; lower
• E) inelastic; raise

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