Assume That the Price Elasticity of Demand for Corn Has

Multiple Choice

Assume that the price elasticity of demand for corn has been estimated to be 2.33.Flash floods destroy 10% of Canada's crop of corn.Which statement BEST describes how this will affect total expenditures on corn,all other things equal?

A) Total expenditures will remain unchanged.
B) Total expenditures will fall.
C) Total expenditures will rise.
D) The information is insufficient to answer the question.