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Suppose the Price Elasticity of Demand for Your Economics Textbook

Question 16

Multiple Choice

Suppose the price elasticity of demand for your economics textbook is -1.If the publisher raises the price by 5 percent,


A) revenues will rise 5 percent
B) quantity demanded will rise 5 percent
C) total revenues will not change
D) revenues will fall
E) revenues will fall 5 percent

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