If the demand for orange juice is elastic,then as the price falls,quantity demanded for orange juice will ________ and total revenue for orange suppliers will ________.
A) increase; increase
B) decrease; increase
C) decrease; decrease
D) increase; decrease

Question

Quizplus · Accepted Answer

When demand is elastic, a decrease in price leads to a proportionally larger increase in quantity demanded, which increases total revenue for suppliers.

If the Demand for Orange Juice Is Elastic,then as the Price