Ghose and Han(2014) found that the elasticity of demand for Google Play apps is 3.7. This elasticity applies to a small college town where approximately1,000 apps per month are sold.

If price rises by 9%, what would be the effect on quantitydemanded?

The quantity demanded will decrease by 33.3 percent.(Enter your response rounded to one decimalplace.)

Would revenue rise orfall? Revenue would fall

What is the percentage change inrevenue?

The change in revenue is percent. (Enter your response rounded to two decimalplaces.)