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Suppose the price elasticity of demand for your economics textbook is -1. If the publishers lowers the price 5 percent, this will result in: A.

Suppose the price elasticity of demand for your economics textbook is -1. If the publishers lowers the price 5 percent, this will result in:

A.

A 5 percent rise in quantity demanded, and a 5 percent rise in total revenue.

B.

A 5 percent rise in quantity demanded, and no change in total revenue.

C.

A 50 percent rise in quantity demanded, and a 20 percent rise in total revenue.

D.

A 5 percent rise in quantity demanded, and a 20 percent rise in total revenue.

E.

A 50 percent rise in quantity demanded (the effect on total revenue is uncertain).

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