Question
. A 25 percent decrease in the price of breakfast cereal leads to a 30 percent increase in the quantity of cereal demanded. As a
. A 25 percent decrease in the price of breakfast cereal leads to a 30 percent increase in the quantity of cereal demanded. As a result:
A. total revenue will decrease.
B. total revenue will increase.
C. total revenue will remain constant.
D. the elasticity of demand will increase.
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Principles of Economics
Authors: Robert Frank, Ben Bernanke
5th edition
73511404, 978-0073511405
