The Price Elasticity of Demand for a Textbook Is Estimated

Multiple Choice

The price elasticity of demand for a textbook is estimated to be 1 no matter what the price or quantity demanded. In this case,

A) a 10 percent increase in price will result in a 10 percent increase in total revenues.
B) a 10 percent increase in price will result in a 10 percent decrease in the quantity demanded.
C) a 10 percent increase in price will result in a 10 percent decrease in total revenues.
D) a 10 percent increase in price will result in a 10 percent increase in quantity demanded.