Solved

If the Quantity of Bananas Sold Increases by 5 Percent

Question 49

Multiple Choice

If the quantity of bananas sold increases by 5 percent when the price decreases by 10 percent, the price change occurs in the


A) bottom half of the downward-sloping straight-line demand curve and total revenue decreases from this price change.
B) bottom half of the downward-sloping straight-line demand curve and total revenue increases from this price change.
C) top half of the downward-sloping straight-line demand curve and total revenue decreases from this price change.
D) top half of the downward-sloping straight-line demand curve and total revenue increases from this price change.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions