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.
Correct Answer:

Verified
Correct Answer:
Verified
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