If the elasticity of demand for tongue depressors is 0.5,

A. a 10% rise in the price of tongue depressors will lower quantity demanded by 50%.
B. an increase in the price of tongue depressors will lower total revenue for sellers.
C. a 10% increase in the price of tongue depressors will not change its total revenue.
D. a 10% fall in the price of tongue depressors will raise quantity demanded by 5%.


D. a 10% fall in the price of tongue depressors will raise quantity demanded by 5%.

Economics

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