Multiple Choice
Suppose the price elasticity of demand for oranges is 1.8.If a fall frost destroys one-third of the nation's orange crop,how will that affect total revenue from oranges,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.
Correct Answer:
Verified
Correct Answer:
Verified
Q90: On a linear demand curve,demand at very
Q91: Suppose the price of cereal rose by
Q92: After a price decrease,the quantity effect tends
Q93: We predict the long-run price elasticity of
Q94: As you move down a linear demand
Q96: For which goods is the cross-price elasticity
Q97: Yovanka has diabetes,and she will pay any
Q98: Suppose the cross-price elasticity between two goods
Q99: The pair of items that is MOST
Q100: When the price of pencils decreases from