• 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