Multiple Choice
As a result of a poor growing season, the supply curve of apples shifted leftward, the equilibrium price of apples rose, and total revenue fell. This suggests that the price elasticity of demand for apples is
A) perfectly inelastic.
B) elastic.
C) inelastic.
D) unit elastic.
E) perfectly elastic.
Correct Answer:

Verified
Correct Answer:
Verified
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