If the price elasticity of demand for a product is -5.0, and the income elasticity of demand for the product is 2.5, then the firm's total revenue will remain constant if a 1 percent decrease in consumer income is accompanied by a
A) 0.5 percent increase in product price.
B) 0.5 percent decrease in product price.
C) 2 percent increase in product price.
D) 2 percent decrease in product price.

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The Answer of If the price elasticity of demand for a product is -5.0, and the income elasticity of demand for the product is 2.5, then the firm's total revenue will remain constant if a 1 percent decrease in consumer income is accompanied by a
A) 0.5 percent increase in product price.
B) 0.5 percent decrease in product price.
C) 2 percent increase in product price.
D) 2 percent decrease in product price.

If the Price Elasticity of Demand for a Product Is