When the local used bookstore prices economics books at $15.00 each,it generally sells 70 books per month.If it lowers the price to $7.00,sales increase to 90 books per month.Given this information,we know that the price elasticity of demand for economics books is about
A) 2.91,and an increase in price from $7.00 to $15.00 results in an increase in total revenue.
B) 2.91,and an increase in price from $7.00 to $15.00 results in a decrease in total revenue.
C) 0.34,and an increase in price from $7.00 to $15.00 results in an increase in total revenue.
D) 0.34,and an increase in price from $7.00 to $15.00 results in a decrease in total revenue.

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The Answer of When the local used bookstore prices economics books at $15.00 each,it generally sells 70 books per month.If it lowers the price to $7.00,sales increase to 90 books per month.Given this information,we know that the price elasticity of demand for economics books is about
A) 2.91,and an increase in price from $7.00 to $15.00 results in an increase in total revenue.
B) 2.91,and an increase in price from $7.00 to $15.00 results in a decrease in total revenue.
C) 0.34,and an increase in price from $7.00 to $15.00 results in an increase in total revenue.
D) 0.34,and an increase in price from $7.00 to $15.00 results in a decrease in total revenue.

When the Local Used Bookstore Prices Economics Books at $15