Multiple Choice
A 10% decrease in the price of energy bars leads to a 20% increase in the quantity of energy bars demanded.It appears that:
A) demand is inelastic and total revenue will decrease.
B) demand is inelastic and total revenue will increase.
C) demand is unit elastic and total revenue will remain constant.
D) demand is elastic and total revenue will decrease.
E) demand is elastic and total revenue will increase.
Correct Answer:
Verified
Correct Answer:
Verified
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