Refer to the accompanying table.The price elasticity of demand of erasers is __________ when the price is lowered from $1.50 to $1.00.Sellers of erasers will __________ their total revenue from this price change.
A)perfectly elastic; not change
B)elastic; raise
C)elastic; lower
D)inelastic; lower
E)inelastic; raise

Question

Refer to the accompanying table.The price elasticity of demand of erasers is __________ when the price is lowered from $1.50 to $1.00.Sellers of erasers will __________ their total revenue from this price change. 
A)perfectly elastic; not change 
B)elastic; raise 
C)elastic; lower 
D)inelastic; lower 
E)inelastic; raise

Quizplus · Accepted Answer

The Answer of Refer to the accompanying table.The price elasticity of demand of erasers is __________ when the price is lowered from $1.50 to $1.00.Sellers of erasers will __________ their total revenue from this price change. 
A)perfectly elastic; not change 
B)elastic; raise 
C)elastic; lower 
D)inelastic; lower 
E)inelastic; raise

Refer to the Accompanying Table