Suppose the price elasticity of demand for blueberries is 1.5.If climate change destroys one-fourth of the nation's blueberry crop (and thus reduces supply), how will that affect total revenue, all other things unchanged?
A.Total revenue will rise.
B.Total revenue will fall.
C.Total revenue will remain unchanged.
D.Not enough information is given to answer the question.

Question

Quizplus · Accepted Answer

The Answer of Suppose the price elasticity of demand for blueberries is 1.5.If climate change destroys one-fourth of the nation's blueberry crop (and thus reduces supply), how will that affect total revenue, all other things unchanged?
A.Total revenue will rise.
B.Total revenue will fall.
C.Total revenue will remain unchanged.
D.Not enough information is given to answer the question.

Suppose the Price Elasticity of Demand for Blueberries Is 1