• 2022-06-03
    Because of an increase in the price of leather, the price of a pair of women's dress shoes increased 12 percent. If the price elasticity of demand for women's dress shoes is 0.85, which of the following will happen?
    A: The number of pairs of women's dress shoes demanded decreases by 10.2 percent.
    B: Total expenditure on women's dress shoes decreases.
    C: Total revenue from the sale of women's dress shoes decreases.
    D: none of the above
  • A

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    • 0

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    • 1

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