Due to a Drought in Georgia, the Market Price for Peanuts

Multiple Choice

Due to a drought in Georgia, the market price for peanuts rises by 20% nationwide. If the price elasticity of demand for peanuts is 0.8, what would happen to total revenue for peanut farmers who were not affected by the drought?

A) Total revenue would fall as quantity demanded falls by 16%.
B) Total revenue would rise as quantity demanded falls by 16%.
C) Total revenue would fall as quantity demanded falls by 25%.
D) Total revenue would rise as quantity demanded falls by 25%.