If = 1.50, and price decreases by 20 percent, then:
A)quantity demanded will decrease by 30 percent.
B)quantity demanded will increase by 30 percent.
C)total revenue will remain unchanged.
D)total revenue will decrease.
E)quantity demanded will increase by 3 percent.

Question

If  = 1.50, and price decreases by 20 percent, then:
A)quantity demanded will decrease by 30 percent. 
B)quantity demanded will increase by 30 percent. 
C)total revenue will remain unchanged. 
D)total revenue will decrease. 
E)quantity demanded will increase by 3 percent.

Quizplus · Accepted Answer

The Answer of If  = 1.50, and price decreases by 20 percent, then:
A)quantity demanded will decrease by 30 percent. 
B)quantity demanded will increase by 30 percent. 
C)total revenue will remain unchanged. 
D)total revenue will decrease. 
E)quantity demanded will increase by 3 percent.

If = 150, and Price Decreases by 20 Percent, Then